Dollar edges up against euro

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Dollar edges up against euro

the drop had little impact on carry trade positions -- using the low-yielding yen as a cheap source of funds to buy higher-yielding currencies.

Market players are closely watching the performance of oil and looking ahead to Saturday's gathering of Group of Eight financial officials in Osaka, Japan, for more clues on whether the United States has changed its policy on the dollar.

Oil fell more than $1 to $135.13 a barrel after having surged $5 the previous day on US data showing dwindling stockpiles. The dollar tends to move in the opposite direction of oil prices.

The outcome of Ireland's referendum on the European Union reform treaty is also being eyed, with results expected on Friday. The rejection of the EU constitution by France and the Netherlands in 2005 was one factor behind the euro's fall that year.

But analysts were divided on whether the Irish vote would have much of an impact on the single currency this time.