Declining oil and commodity prices pushed the Canadian dollar to its lowest point against the U.S. dollar in over a year. In the past week alone, the Canadian dollar – known as the “loonie” – fell more than 3 percent to C$1.0567 per U.S. dollar at 7:59 a.m. in New York.
Ã¢â‚¬Å“Concerns are now fully spilling into recession fears,Ã¢â‚¬Â said Tom Levinson, a currency strategist at ING Groep NV. Ã¢â‚¬Å“ThatÃ¢â‚¬â„¢s clearly bad for commodity currencies and exporters.Ã¢â‚¬Â
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