Is Trudeau out to break Chretien/Martin's record setting 2001 51¢ dollar?
The Canadian dollar dropped below the 70-cent US level for the first time since May 2003 on Tuesday.
Nearing midday, the loonie was changing hands at 69.94 cents US, down by about a third of a cent.
When flipped into the other direction, that means one U.S. dollar can now purchase almost $1.43 Canadian.
The Canadian dollar was led down by oil, which was threatening to dip below $30 US a barrel for the first time since Jean Chretien was prime minister.
The dollar and oil were taking their lead from stock markets, which gave up early gains to head lower on Tuesday. The TSX was just slightly lower, while the Dow Jones Industrial Average and the broader S&P 500 in New York were slightly higher.
The bleak mood of the day's trading was summed up in a report from the Royal Bank of Scotland, which advised clients to "sell everything" in a report early Tuesday.
Canadian dollar drops to below 70 cents US - Business - CBC News
The Canadian dollar dropped below the 70-cent US level for the first time since May 2003 on Tuesday.
Nearing midday, the loonie was changing hands at 69.94 cents US, down by about a third of a cent.
When flipped into the other direction, that means one U.S. dollar can now purchase almost $1.43 Canadian.
The Canadian dollar was led down by oil, which was threatening to dip below $30 US a barrel for the first time since Jean Chretien was prime minister.
The dollar and oil were taking their lead from stock markets, which gave up early gains to head lower on Tuesday. The TSX was just slightly lower, while the Dow Jones Industrial Average and the broader S&P 500 in New York were slightly higher.
The bleak mood of the day's trading was summed up in a report from the Royal Bank of Scotland, which advised clients to "sell everything" in a report early Tuesday.
Canadian dollar drops to below 70 cents US - Business - CBC News