News Analysis
The Canadian dollar has fallen to its lowest level compared to the greenback in 14 months, nearing 70 U.S. cents, and economists say the loonie could weaken further as Canada’s economy slows and investors continue to favour the U.S. dollar.
The Canadian dollar’s two-month slide coincides with Canada’s entry into a technical recession, expectations that the U.S. Federal Reserve could raise interest rates, relatively lower oil prices, heightened geopolitical uncertainty, and the lack of a deal so far in key trade talks with the United States.
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