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Personal Income Sends Dollar Up

March 28, 2008 (Last updated on March 29, 2008) by

The U. S. dollar gained against the euro and the pound today after the release on personal income and spending came out. EUR/USD fell down from 1.5813 to 1.5761, while GBP/USD slid down from 2.0071 to 1.9947.

Personal income rose 0.5% in February — above the forecasted and the previous month’s 0.3% growth. Personal spending grew at a very slow pace in February; it rose 0.1% — the same as it was expected and lower than the previous 0.4% growth.

Michigan Sentiment Index final value for March was released today at 69.5 — below the expected 70.0 and the February’s 70.8.

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