Dollar up as jobless claims jump, indicators drop

The dollar rose against the major currencies but fell against the yen Thursday amid fading hopes of an auto bailout, a spike in unemployment benefits and grim leading indicators. Bad news typically drives investors into the arms of "safe" investments such as government Treasuries and the dollar as they curtail riskier investments overseas. The 15-nation euro dropped to $1.2539 in Thursday morning trading in New York from $1.2602 late Wednesday, while the British pound declined to $1.4793 from $1.5025.