CANADA FX-C$ weakens briefly after Bank of Canada decision

Wed Sep 7, 2011 9:10am EDT
 
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TORONTO, Sept 7 (Reuters) - The Canadian dollar weakened briefly against its U.S. counterpart on Wednesday after the Bank of Canada Bank said the need to withdraw monetary policy stimulus had diminished because of the worsening global economic picture.

The Canadian currency CAD=D4 touched a session low of C$0.9912 to the U.S. dollar, or $1.0089, before regaining some ground. At 9:06 a.m. (1306 GMT), it stood at C$0.9875 versus the U.S. dollar, or $1.0127, up from Tuesday's North American session close at C$0.9898 to the U.S. dollar, or $1.0103. (Reporting by Andrea Hopkins; Editing by Jeffrey Hodgson)