July 22, 2011 / 11:21 AM / 9 years ago

CANADA FX-Canada's dollar slips after tame CPI reading

 TORONTO, July 22 (Reuters) - Canada's dollar weakened
against the U.S. currency on Friday after a June Canadian
inflation reading came in surprisingly tame.
 The currency slipped as low as C$0.9504 to the U.S. dollar,
or $1.0522, down from around C$0.9465 to the U.S. dollar, or
$1.0565, just prior to the data.
 Canadian inflation eased to 3.1 percent in June from an
eight-year high of 3.7 percent, still a notch above the central
bank's target range but expected to ease further and relieve
pressure to hike interest rates. [ID:nSCLMIE70D]
 (Reporting by Ka Yan Ng; Editing by Padraic Cassidy)

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