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Fears about global economy push dollar higher
241 days ago
(AP:NEW YORK) The dollar is rising against most other currencies after weak economic data from Asia and Europe pointed to more weakness in the economy.
A private survey of manufacturers in China showed that activity fell again in September.
Japan posted a $9.6 billion trade deficit in August as shipments to Europe and Asian countries fell. A closely watched survey in Europe suggested that the region is headed for a deepening recession.
Traders consider the dollar a safe haven, so it tends to rise when traders are worried about the global economy.
The euro fell to $1.2945 in morning trading from $1.3063. The British pound fell to $1.6197 from $1.6230.
The dollar rose to 0.9336 Swiss franc from 0.9275 franc.
The dollar fell to 78.25 Japanese yen from 78.39 yen.
Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
