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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