WINNIPEG – The Canadian dollar fell below 80 United States cents on Thursday morning, reaching its lowest point in two months.
As of 8:34 a.m. CDT, the loonie was at US$0.7973 or US$1=C$1.2542, compared to US$0.8016 or US$1=C$1.2475 when markets closed on Wednesday. Market fears over rising COVID-19 Delta variant cases worldwide and volatility in oil prices brought downward pressure to the currency.
Brent crude dipped US$0.16 per barrel to US$73.27. West Texas Intermediate (WTI) dropped US$0.33 to US$71.87/barrel. Western Canadian Select (WCS) lost US$0.21 to US$58.55/barrel.
The TSX/S&P Composite Index pulled back 9.43 points to 20,290.60.
Gold gained US$5.70 per ounce to US$1,809.33.
