The Economy

Oct 13, 2011 11:32 AM by Dr. Anya Winslow

Dollar rises against euro on safety appeal

WASHINGTON (AP) - The dollar is rising against currencies seen as riskier after weak Chinese trade data raised worries about global economic growth.

China's trade surplus narrowed for a second straight month in September. Weaker spending by overseas consumers caused exports to decline, a troubling sign for the U.S. other and economies facing another possible recession.

The dollar is attractive during periods of economic weakness because it gives traders access to relatively safe, easily tradable securities such as U.S. Treasurys.

The euro weakened to $1.3702 at 10:39 a.m. Eastern time Thursday from $1.3793 late Wednesday. It reached $1.3833 early Wednesday afternoon, the highest in nearly four weeks.

The dollar rose to 1.0236 Canadian dollar from 1.0151 late Wednesday. The Canadian dollar tracks commodities such as oil and metals, which fell sharply.


(Copyright 2011 by The Associated Press. All Rights Reserved.)

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