Dollar rises against euro, pound as flat personal incomes raise doubts about economic recovery

Dollar rises on concerns about economic recovery

NEW YORK — The dollar edged higher against the euro and the pound Friday after a report showing flat household incomes raised doubts about an economic recovery, driving investors into the relative safety of the currency.

The 16-nation euro fell to $1.4287 in late trading Friday from $1.4371, while the British pound bought $1.6269, compared with $1.6285 late Thursday. The dollar inched up to 93.60 Japanese yen from 93.45 yen.

A Commerce Department report said personal incomes were unchanged in July, the eighth month out of the past 10 in which incomes have either fallen or failed to grow. Consumer spending rose 0.2 percent in July, which was in line with economists’ expectations.

Recent economic data has largely benefited from the government’s various stimulus programs, and investors have been worried about how well the economy will fare without government support.

In other late trading, the dollar rose to 1.0931 Canadian dollars from 1.0842 late Thursday, and advanced to 1.0608 Swiss francs from 1.0575 francs.