| Europe, China growth worries boost dollar |
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NEW YORK: The dollar strengthened against most other currencies Thursday amid fresh signs of economic weakness in Europe and China that raised concerns of a sharper slowdown in the global economy.
The euro fell to $1.3185 around 1900 GMT, down from $1.3213 a day earlier.
But the dollar dropped against the Japanese currency, falling to 82.50 yen from 83.40 yen late Wednesday.
"The 'all is now better' mentality is fading from the market quickly and replaced with renewed concerns about the sustainability of global growth," said Kathy Lien at GFT.
Eurozone business activity fell more sharply than expected in March, indicating that the 17-nation single currency area slid back into recession, a key survey showed.
In China, manufacturing activity fell to a four-month low in March, HSBC bank said on Thursday, adding fuel to concerns over slowing growth in the world's second-largest economy.
"If the US recovery was more mature and on firmer footing, slower growth in China and Europe would not be as damaging to risk appetite but unfortunately the US recovery is still at its initial stages," Lien said.
The dollar firmed against the Swiss currency, to 0.9142 francs from 0.9121 francs.
The greenback also gained on the British pound, which fetched $1.5815 compared with $1.5870 the prior day. (AFP) |
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