US personal income and spending both rose in January. Income was up 0.6% and spending up 0.4%. The savings rate rose to 5.0%, the highest since 1995. Much of the rise in income is as a result of government transfer programs, CNBC reports. Next data points are ISM (33.8 expected) and construction spending -1.5% expected).
Early dollar strength is being reversed as EUR/USD rises toward resistance in the 1.2620 area.
