FOREX-Dollar up modestly ahead of jobs data

* Euro hits session peak after Trichet comments

* Major currencies in ranges before jobs report Friday

* BoE ups QE by 25 bln sterling, low end of forecasts (Updates prices)

By Steven C. Johnson

NEW YORK, Nov 5 (Reuters) - The dollar edged up against major currencies on Thursday, recovering some recent losses, as investors booked profits before a U.S. employment report expected to shed more light on the health of the economy.

The greenback fell in the prior session after the Federal Reserve kept interest rates at record lows and signaled they were likely to stay there for some time to come.

It lost more ground earlier Thursday after European Central Bank President Jean-Claude Trichet sounded an optimistic note about a 2010 recovery and hinted at a slow-motion exit strategy for some emergency stimulus measures. For more see [ID:nECBNEWS].

But euro gains above $1.49 were short-lived, and analysts said investors were largely moving to the sidelines ahead of Friday's jobs report, expected to show a slower pace of U.S. job losses but another rise in the unemployment rate.

"This is really going to be a serious indicator of the relative health of the U.S. economy," said John McCarthy, director of foreign exchange at ING Capital Markets in New York. "Until you see jobs recover, you are not going to get any sustainability in the economic turnaround, nor are you going to get any reason for the Fed to tighten."