Worries about China and Europe push dollar higher

[April 14, 2012]  NEW YORK (AP) -- Slow growth in China and worries about Europe's ongoing debt crisis are pushing the dollar higher against most other major currencies.

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.

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

The British pound fell to $1.5848 from $1.5970. The dollar rose to 80.97 Japanese yen from 80.80 yen and to 0.9174 Swiss franc from 0.9105 Swiss franc.

[Associated Press]

Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.