CNBC: Euro down against dollar on global growth fears
BERLIN - The euro is lower against the dollar after the Federal Reserve said the U.S. recovery is losing momentum and China reported a further slowdown in industrial growth, weighing on markets' appetite for risk.
The 16-nation currency bought $1.3046 in Wednesday morning European trading.
That was down from $1.3196 in New York late Tuesday, when the euro had slipped after the Fed announced small-scale plans to buy government debt in an effort to aid the recovery.
The dollar is a traditional safe haven for investors and the latest signal that China's boom is cooling appeared to have reduced their appetite for assets deemed riskier.
The British pound dropped to $1.5770 from $1.5881. The dollar edged up to 85.33 Japanese yen from 85.27 yen.
