Worries about China and Europe push dollar higher

AP News
Posted: Apr 13, 2012 3:18 PM
Worries about China and Europe push dollar higher

Slow growth in China and worries about Europe's debt crisis pushed the dollar higher against most other major currencies Friday.

The euro fell to $1.3081 in morning trading from $1.3196 late Thursday.

Data from China showed that the economy grew at an 8.1 percent annual rate from January to March, the slowest rate in almost three years.

In Europe, the yields on Italy and Spain's benchmark 10-year bond rose, a sign that investors are worried about the finances of both countries.

Traders tend to buy what they consider safer currencies, such as the dollar, when they are worried about the global economy.

Banning Straws
John Stossel

In other trading Friday, the British pound fell to $1.5854 from $1.5970. The dollar rose to 81.10 Japanese yen from 80.80 yen, to 0.9197 Swiss franc from 0.9105 Swiss franc and to 99.83 Canadian cents from 99.45 Canadian cents.