Canadian Dollars FallsTORONTO - The Canadian dollar has continued its fall against the American greenback.
TORONTO - The Canadian dollar has continued its fall against the American greenback.
The loonie was down about two cents ahead of the official North American open Tuesday but recovered somewhat later in the morning.
The Canadian dollar opened at 92.46 cents US, down 1.94 cents from Friday's close before a holiday weekend.
The loonie is far from where it was a month ago, when the Canadian and American dollars were near parity.
The American dollar has been rising against most other currencies over the past few weeks amidst concern that the Greek debt crisis will slow the global economic recovery.
Oil prices have also fallen dramatically, putting additional pressure on the Canadian dollar.