Dollar Rises Vs. Euro After Chinese GDP Data

The U.S. dollar rose against most major rivals Monday after a reading of Chinese gross domestic product came in at a better-than-expected third-quarter rate. The U.S. Dollar Index rose 0.3% to 94.827. The Chinese government said gross domestic product grew 6.9%, which compared with expectations of 6.8% in a Wall Street Journal poll of analysts, though it was the slowest growth rate since 2009. The euro fell to $1.1319 from $1.1369 late Friday. The GDP reading "should offer some reassurance as to the speed of slowing of the world's second-largest economy," wrote Michala Marcussen, global head of economics at Soci�t� G�n�rale, in a note. "The question remains, however, as to how much of a drag this has exerted beyond China's borders," she said, adding that the European Central Bank "is set to deliver a cautious tone" on Thursday with the release of its monetary policy statement.