Dollar Gains On Euro, Pound, And Yen On Thursday Morning, Thursday, May 10, 2007 9:07:26 AM

The U.S. dollar exhibited strength against its major counterparts Thursday morning in New York. The greenback moved near a monthly high against the euro and pound, while it climbed to its highest level since late February against the yen. The rise came amid the release of interest rate decisions from Europe and economic news from the U.S. showing a slower rate of advance on import prices, a wider international trade gap and lower-than-expected jobless claims.

The dollar gained on the euro during Thursday morning`s trading. The greenback rose amid news that the European Central Bank decided to keep interest rates on hold at 3.75% after their monthly policy meeting. Also helping the dollar rise was economic news from the U.S. Shortly before 9 am Eastern Time, the dollar moved to its highest level against the euro in almost a month.

The greenback also gained on the pound Thursday morning in New York. The early rise took place amid the decision by the Bank on England to raise its key interest rate by 25 basis points to 5.5%. The fourth increase since August 2006 helped the dollar to advance on the pound. The greenback made its largest move with the release of U.S. economic news around 8:30 am Eastern Time. A half-hour later, the dollar traded at 1.9834 against the pound, the buck`s highest level in almost a month.

The dollar gained on the yen during Thursday`s morning`s trading in New York. The greenback rose throughout the morning, amid the release of data showing that Japanese money supply and bank lending continued to grow in April. The release of the U.S. economic news caused the dollar to make its biggest advance, and shortly before 9 am Eastern Time, the greenback traded at 120.48 against the yen. It was the dollar`s highest level against the yen since the end of February.

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