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Euro Slips, Chinese GDP Hits Target

China stays on target and Italy takes a rating cut - it's time for your Friday FX Fix.

Chinese GDP rose 7.6 percent, in line with forecasts, and the Australian and New Zealand dollars had a relief rally. [CNBC]

Still, the yuan fell against the dollar on slowing growth in China. [WSJ]

Emerging Asian currencies turned higher after the China GDP report, but remained vulnerable to growth worries. [Reuters]

The euro hovered near two-year lows after Moody's downgraded Italian debt, though Italian bond yields fell. [CNBC]

As the euro slides against other currencies, the Swiss National Bank appears to be stepping up efforts to maintain the franc's euro peg. [WSJ]

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