Canadian dollar plunges almost a full U.S. cent as cartel decides not to cut production
The Canadian dollar plunged almost a full U.S. cent Thursday as oil prices fell below US$70 after the OPEC cartel decided not to cut production.
The loonie was down 0.88 of a cent to 88.12 cents US as the North American price of crude oil fell, trading below $70 US a barrel, the lowest it has been since May 2010. As recently as June it was around $105. Read more here.