OTTAWA, Jan. 29 (UPI) -- The Canadian dollar fell to 79.64 cents against the U.S. dollar Thursday, its lowest point in six years, as crude oil prices fell as well.
Known as the loonie for its depiction of a Canadian loon on its one-dollar coin, the Canadian dollar crossed the 80-cent barrier Wednesday. An unexpected cut in the Bank of Canada's benchmark interest rate last week, and Wednesday's announcement by the U.S. Federal Reserve that no rate hike in the United States should be expected before June because of the relatively strong U.S. economy, set off a decline in the loonie's value.