Wednesday, March 21, 2012

Dollar ekes out gains as China fears weigh

NEW YORK: The dollar rose slightly against the euro on Tuesday in listless trade dominated by concerns about Chinese growth.

"Global growth worries flared Tuesday, giving the dollar a safe haven boost," said analysts at Travelex.

Earlier Australian mining giant BHP Billiton warned China's iron ore demand appeared to be flattening, raising growth alarms on the world's second-largest economy.

The euro slipped to $1.3228 from $1.3237 late in New York on Monday.

The dollar was slightly higher against the Japanese currency, rising to 83.70 yen from 83.43 yen.

The dollar was slightly up against the Swiss franc.

The pound fetched $1.5867, slightly down from $1.5888 the day before.

- AFP/ck

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Source From Channel News Asia

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