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Dollar Lifts, Euro Has the Blues

Wednesday, 6 Jul 2011 | 8:48 AM ET

Higher rates in China, lower ratings in Portugal - time for your daily FX Fix.

The dollar is stronger in the wake of an interest rate hike in China. [marketwatch.com]

Portuguese debt gets downgraded, and the euro is feeling the pain. [WSJ]

The Canadian dollar is also slipping on the Portuguese downgrade and soft economic data from the euro zone. [Reuters]

After Brazil's finance minister suggested there would be more steps to keep the real in check, the real sank. [WSJ]

The Philippine peso hit a two-month high on expectations that the currency may be used to fight inflation there. [economictimes.com]

Caterpillar issued $355 million in yuan-denominated bonds, the biggest such offering by a foreign multinational. [CNBC]

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