Posted AT 11:31 AM EST on 30/10/07
Loonie could swoon next year, EDC says
The Canadian dollar may sink to the 85-cent to 90-cent range (U.S.) by the end of next year as commodity prices weaken and investors return to the U.S. currency, Export Development Canada predicted Tuesday.
The government agency's model shows every $10-a-barrel change in oil prices translates into a three-cent movement in the currency.
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