The Canadian Dollar hit a 5-week low in forex trading as investors sold higher yielding assets as concerns increased on slowing economic growth amid weaker manufacturing shipments and a continuation of the U.S. subprime issue. The Canadian Dollar, alongside the Australian Dollar, fell its second time in a week as government bonds rose as traders sold stocks and commodities such as gold. Barclays Plc, the United Kingdom's third largest bank, said it wrote down about 2.7 billion U.S. Dollars on credit related securities tied to the U.S. subprime mortgage collapse. ''The general theme of risk aversion will continue to push the Canadian dollar lower,'' said Jonathan Gencher, a vice president of foreign exchange sales in Toronto at BMO Capital Markets. ''The market continues to off-load some very long Canadian dollar positions.''

In forex trading, the Canadian Dollar fell 1.8 percent to 98.67 U.S. cents, its lowest level since October 9. The Canadian Dollar has fallen a total 8 percent since hitting its highest level of 90.58 U.S. cents per 1 U.S. Dollar on November 7.