Updated on
Summary The euro rebounded against the dollar after hitting a new two-year low earlier in the day.
Traders bought the euro after Chinas latest economic data met economists expectations and Italy held a successful bond auction.China said its economy grew by 7.6 percent in the second quarter, down from the previous quarters 8.1 percent.Italy sold $4.3 billion of three-year bonds and paid a lower interest than it did at a similar auction in June. Thats a sign that investors are more confident in the countrys finances.The euro rose to $1.2235 Friday afternoon after falling as low as $1.2161 in morning trading. It was worth $1.2195 late Thursday.The British pound rose to $1.5557 from $1.5428. The dollar fell to 79.19 Japanese yen from 79.31 yen.
