Canadian dollar slides to recession levels
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Jan 29, 2015  |  Vote 0    0

Canadian dollar slides to recession levels

Loonie keeps falling, dips below 80 cents U.S., lowest since April 2009 as Federal; Reserve hints at interest rate hikes


The Canadian dollar is down below 80 cents, the lowest it’s been since the dark days of the recession.

The loonie is trading at 79.08 cents U.S. at noon, down 0.79 of a cent from Wednesday’s close.

The loonie hasn’t been this low since the recession. During the recession, the dollar regularly stayed below 80 cents, reaching its lowest point in March 2009, at 76.98 cents.

The dollar Thursday morning lost more ground in the wake of Wednesday’s announcement from the Federal Reserve that left markets with the impression that the central bank will start hiking rates around the middle of this year.

The Toronto stock market market was lower Thursday as another day of declines in mining and energy stocks competed with better than expected earnings reports from the likes of Facebook, Potash Corp. of Saskatchewan (TSX:POT) and Rogers Communications (TSX:RCI.B).

The S&P/TSX composite index fell 76.2 points to 14,526.68.

With files from the Canadian Press

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