CANADIAN DOLLAR TAKES BIGGEST DIVE IN NEARLY 12 YEARS

Dec 17, 2015

By Bob Komsic

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The loonie has not been around these parts in more than 11 years, plunging Thursday below 72-cents U-S for first time since May of 2004.
Why did it lose almost one penny to 71-point-six-eight-cents American?
oil_dollar

Canada’s currency has been affected by a number of factors, many related to the strength of the American dollar as well as weak global market conditions for key exports such as oil, gas and other commodities.

The U.S. Federal Reserve Board’s decision to finally raise its key interest rate, after months of signals that an increase was coming, helped push up the American dollar against the British pound, Japanese yen, Australian dollar and the euro.

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