CANADA FX DEBT-C$ slides to near-week low on China, Portugal

By News on the Net —— Bio and Archives July 6, 2011

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By Trish Nixon, Reuters TORONTO, - Canada's dollar weakened against its U.S. counterpart on Wednesday, touching its lowest point in almost a week, after China's rate hike and a downgrade of Portugal's debt fueled buying of the safe-haven greenback.

China raised interest rates for the third time this year, making clear that taming inflation remains a top priority even as its vast economy pauses. Portugal's credit downgrade by ratings agency Moody's also reignited fears about euro zone debt just as concerns over Greece ebbed. Full article