FOREX-Euro drops to new low as GDP data confirm weak growth

* Euro weakest since April 2017 on growth concerns
* Dollar finds more buyers amid coronavirus worries
* Yen, Swiss franc supported as investors stay nervous
* Graphic: World FX rates in 2019 http://tmsnrt.rs/2egbfVh

(Adds new analyst quotes, details after GDP data, latest
prices)
LONDON, Feb 14 (Reuters) - The euro fell again to a nearly
three-year low on Friday amid worries about slowing growth in
the euro zone, as fourth-quarter data confirmed the economy's
sluggish performance.
The euro has lost close to 1% so far this week and is on
track for its worst two-week performance since mid-2018.
Euro zone gross domestic product grew 0.1%
quarter-on-quarter in the fourth quarter, in line with
forecasts. Year-on-year growth was weaker than expected, at
0.9%, although employment grew more than expected. The German economy stagnated, data also showed, renewing
fears of a recession.
"When I think of the euro since the start of the year and in
particular since the start of the month I think of
`heavyweight', as it has dropped like a stone compared with the
dollar," said Commerzbank analyst Antje Praefcke.
The euro fell to $1.0827 EUR=EBS overnight before settling
at $1.0841, down on the day. It was unchanged after the euro
zone data was released.
The euro has been buffeted by signs of a slowdown in Germany
and ongoing demand for dollars. Against the Swiss franc, the
euro weakened to another four-and-a-half-year low of 1.060
francs EURCHF=EBS before recovering. Concerns about the extent of the coronavirus in China after
a sharp increase in new infections and deaths has supported both
the safe-haven yen and the dollar. The dollar index .DXY , which measures the currency against
a basket of six major currencies, rose to its strongest since
October. It has risen 0.4% this week, after gains of 1.3% last
week.
Traders are now waiting for a batch of U.S. data later in
the day, including retail sales and industrial production.
The yen JPY=EBS edged up to 109.81 per dollar, following a
0.25% gain the previous session.
China's onshore yuan CNY=CFXS slipped to 6.9868 per
dollar. The offshore yuan CNH=EBS was last at 6.989, following
a 0.2% decline on Thursday.
Sterling consolidated around $1.3030 mark GBP=D3 . It gave
back some of its gains after rising on Thursday when Rishi
Sunak, an ultra-loyalist to Prime Minister Boris Johnson, was
named finance minister.
His appointment raised expectations the upcoming budget
would increase public spending to boost the economy following
Britain's Jan. 31 withdrawal from the European Union.
Kit Juckes, an FX analyst at Societe Generale, said the new
finance minister's appointment raised the bar for the actual
budget, "since markets now price in easier policy than they did
yesterday morning."
The euro strengthened 0.1% against the pound to 83.195 pence
EURGBP=D3 , but that left the British currency still close to a
two-month high.