(Matt Kwong – CBC News)
It’s not a new low — far from it.
But projections that the loonie will plunge below 80 cents US by spring will clip the wings of vacationing snowbirds, take the air out of cross-border shopping and generally cast a pall over the consumer psyche, economists say.
“There’s a severity here. When we see really extreme moves in the Canadian dollar like this, it has a real impact just in terms of a shock effect,” said Craig Fehr, an investment strategist with Edward Jones.
The last time the Canadian dollar traded at 80 cents was on April 21, 2009. Click here to read more.