Posted AT 4:28 PM EST on 20/03/08
Loonie loses more altitude
The loonie lost more altitude Thursday, bringing its two-day drop to nearly 3 cents (U.S.) as the U.S. greenback clawed back some ground and plunging oil and gold prices led the selloff on commodity markets.
The Canadian dollar's freefall began Wednesday, when it lost 2.19 cents to 98.49 cents – its biggest one-day tumble since 1962. The loonie extended its losing streak on Thursday, touching its lowest level in two months, before closing down 0.78 of a cent at 97.71 cents.
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