CANADA FX DEBT-C$ sideswiped by economic uncertainty

Fri Jul 16, 2010 5:39pm EDT
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* C$ ends at 94.82 U.S. cents

* Touches lowest level since July 7

* Worries over recovery hit commodity currencies

* Bonds rally in safe-haven bid (Adds analyst comments, updates pricing)

By John McCrank and Jeffrey Hodgson

TORONTO, July 16 (Reuters) - Canada's dollar suffered its biggest one-day loss this month against its U.S. counterpart on Friday as growing concerns about the strength of the global economic recovery hurt commodity-based currencies.

Canada is a major exporter of commodities such as oil, natural gas, copper and gold. About three-quarters of the country's exports are absorbed by the United States.

A raft of recent U.S. economic data has come in weaker than market forecasters had predicted, stoking concerns that the health of the world's No. 1 economy is taking a turn for the worse.

The negative news helped the euro touch a two-month high against the broadly weaker greenback on Friday.   Continued...