Dollar rises on concerns about global economy

[October 09, 2012]  NEW YORK (AP) -- The dollar is rising against most major currencies on fears the global economy is slowing.

The World Bank cut its growth forecast for Asia and said that China's economy could continue to cool.

In Europe, finance ministers from the 17 countries that use the euro began a two-day meeting in Luxemburg. The officials are expected to discuss Greece, Spain and other matters related to Europe's debt crisis.

The dollar fell to $1.2969 in afternoon trading from $1.3025 late Friday. The British pound fell to $1.6027 from $1.6140.

The dollar rose to 0.9330 Swiss franc from 0.9300 Swiss franc.

The dollar fell to 78.25 Japanese yen from 78.69 yen.

[Associated Press]

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