Euro falls on global economic fears

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Associated Press

Posted on May 11, 2012 at 11:01 AM

Updated Friday, May 11 at 11:02 AM

NEW YORK (AP) — The euro is falling against the dollar on fears about the global economy.

The euro fell to $1.2937 in midday trading from $1.2951 late Thursday.

Disappointing manufacturing reports from China and India Friday signaled that the global recovery may be slowing. China said industrial production rose 9.3 percent in April from a year ago, below expectations. India's industrial output fell 3.5 percent in March.

The Canadian dollar rose sharply against the U.S. currency after Canada said more jobs were created in April than analysts had expected. The U.S. dollar fell to 99.66 Canadian cents from 1.0011 Canadian dollar.

In other trading, the British pound fell to $1.6078 from $1.6153. The dollar fell to 79.94 Japanese yen from 79.91 yen.

The dollar rose to 0.9286 Swiss franc from 0.9274 Swiss franc.

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