FOREX-Dollar resumes upswing but lacks conviction

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* Dollar index up 0.4 percent at 77.048 .DXY

* Global growth concerns support dollar

* But no fresh news leaves position adjustment to dominate

By Jamie McGeever

LONDON, Aug 20 (Reuters) - The dollar rose back towards its 2008 highs on Wednesday as concern persisted about the economic outlook in Europe and Asia.

Profit-taking had been seen on Tuesday, when the dollar hit this year's high against a basket of currencies, but it gave way to a resumption of a broad upward momentum in the U.S. currency.

But there was little in the way of fresh market-moving news, economic data or policymakers' speeches behind the drift higher.

Some said it was more a result of short-term position adjustment than anything else and that it fitted in with the general dollar consolidation seen for much of this week.

"We are in search of a catalyst ... (and) we are entering more of a consolidation phase at the moment," said Michael Hart, European head of FX strategist at Citigroup in London, adding that Wednesday's moves were "position-driven".

"There's a perception emerging that this is as far as it will go at this stage," he said of the dollar's hefty 13-cent gain on the euro in little over a month.

At 1115 GMT the dollar index, a measure of the dollar's value against a basket of six major currencies, was up 0.4 percent on the day at 77.085 .DXY.

On Tuesday, it rose to a high for the year of 77.413.

The euro was down 0.5 percent at $1.4715 <EUR=>, almost a cent from its six-month low of $1.4628 hit on Tuesday.  Continued...