By a staff reporter
The Australian dollar remains weaker as the Chinese economy suffers a second consecutive growth slowdown.
At 1200 AEST, the local unit was buying 91.06 US cents, off its morning lows but still down from Friday's 91.67 cents.
The currency lifted slightly after the release of data showing China's economy grew by 7.5 per cent in the year to the end of June.
That was in in line with market forecasts.
Growth in the world's largest economy has slowed for the second consecutive quarter, after growing at an annual pace of 7.7 per cent in the March quarter.
Easy Forex senior dealer Francisco Solar says traders are still nervous about the impact of weaker Chinese growth on Australia's economy.
"If China sneezes, Australia catches a cold," he said.
"A slowdown in that part of the world is the last thing that we want, considering the amount of exports that we send to that part of the world, especially resources exports."
The Australian dollar was dented at the weekend after Chinese finance minister Lou Jiwei's comments about 7.5 per cent growth were wrongly reported by China's official Xinhua News Agency, which quoted him saying that rate could be seven per cent.
Meanwhile, Australian bonds were slightly firmer at noon.
At 1200 AEST the September 10-year bond futures contract was trading at 96.260 (implying a yield of 3.740 per cent), up from 96.250 (3.750) on Friday.
The September three-year bond futures contract was at 97.310 (2.690 per cent), up from 97.300 (2.700 per cent).
