‘The downside could be enormous from here. There is no reason why it can’t fall much farther’
By Pete Evans
The Canadian dollar dropped to levels not seen since 2004 on Wednesday.
The loonie closed at 76.70 cents against the U.S. dollar, according to the Bank of Canada, down 0.53 cents. That’s lower than the 76.85 cents the loonie closed at on March 9, 2009, more than six years ago. The loonie hasn’t been this low since September 2004, almost 11 years ago, when it touched the 75 cent level.
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