Loonie falls in early trading
Posted Sep 22, 2011 7:09 am.
This article is more than 5 years old.
The dollar tumbled more than two cents in early trading Thursday as investors turned to the U.S. dollar as a safe haven.
The Canadian dollar was down 2.47 cents to 96.96 cents U.S.
The decline came as the U.S. dollar held steady against the euro.
Rising global economic uncertainty has pushed investors to the greenback as it is perceived as a safe option during times of financial turbulence.
As well, falling commodity prices have hit the Canadian currency, which is seen as linked to the price of oil, minerals and other commodities.
The slip in the loonie followed a steep decline in the currency on Wednesday.
That was the first time the loonie closed below parity since the end of January.
