* Dollar rises, pulls away from 14-month low vs euro
* Weaker stocks cool risk demand, supporting U.S. currency
* Dlr correction seen limited, EUR/USD to return above $1.50
(Adds comment, updates throughout; previous TOKYO)
By Naomi Tajitsu
LONDON, Oct 22 (Reuters) - The dollar rose broadly on Thursday, rebounding from 14-month lows against the euro and a currency basket as a slide in global share price cooled risk demand and put the brakes on a rally in higher-risk currencies.
European shares fell around 1.0 percent, tracking Asian and U.S. stocks lower and prompting some investors to book profits from the euro's rise above $1.50 on Wednesday.
The dollar was also supported by Chinese GDP figures. While showing quickening growth in the economy, the figures sparked selling in higher-yielding currencies, including the Australian dollar, as some in the market had expected even stronger data.
The dollar benefited from cooling risk demand, but analysts said its downtrend remained intact as optimism about the global economy has been boosted by solid third-quarter earnings from U.S. firms and the view that U.S. interest rates will remain low also keeps the currency weak.
"The euro's proximity to $1.50 suggests that the market is not taking the current correction as too serious," said Michael Klawitter, senior currency strategist at Commerzbank in Frankfurt.
"Quite a few investors are buying euros on dips."
He added the currency market would eye movements in stocks, as well as more U.S. earnings due later in the day, including McDonald's, Phillip Morris, AT&T, American Express and others.
By 0750 GMT, the euro had slipped 0.2 percent on the day to $1.4980, although it remained close to $1.5047 hit on Wednesday, its strongest since August 2008.
Against a currency basket, the dollar was up 0.4 percent at 75.280, having fallen to a 14-month low of 74.940 the previous day.
The dollar rose more than half a percent to 91.45 yen. A rise above 91.63 yen would be a one-month high.
The Swedish crown fell to the day's low against the euro after the Riksbank held interest rates at 0.25 percent and said they would remain at that level for the next year.
CHINA GDP
Data on Thursday showed China's gross domestic product growth accelerated to 8.9 percent in the third quarter.
The news was in line with market expectations and gave traders a reason to take profits in higher-yielding currencies such as the Australian and New Zealand dollars, which each fell more than half a percent against the dollar.
China is Australia's biggest trading partner and robust Chinese demand for its commodities has helped it dodge recession.
Market participants said the dollar's correction may be limited, particularly after the Federal Reserve's Beige Book on Wednesday suggested U.S. price pressures were very subdued, reinforcing the cast that rates would remain low for a while.
Data due later on Thursday include U.S. first-time claims for jobless benefits for the week ended Oct. 17, September leading economic indicators and the August home price index from the Federal Housing Finance Agency.
(Editing by Nigel Stephenson)