Early trade in New York: Euro slumps on China GDP

The euro dropped against the dollar for the first time in three days on Friday, as a rise in Spain's borrowing costs revived worries about the euro zone and disappointing Chinese data spurred global growth concerns.
The single currency slumped to the low end of a range against the greenback that has held since January on news that Spain's banks are virtually locked out of credit markets and relied heavily on cheap loans from the European Central Bank in March.
The euro was last down 0.8 percent versus the dollar at $1.3076, on the lower end of the $1.30-$1.35 range it has traded in since January. Against the yen the euro was down 0.7 percent at 105.88. Against the yen, the dollar was up 0.1 percent at 80.94.