The Canadian dollar drifted lower to another seven-month low Wednesday morning.
The loonie was down 0.26 of a cent to 98.57 cents US.
The dollar has fallen about two US cents since the start of the year centred on fears of massive U.S. government spending cuts, the housing market and oil prices.
There are worries about the looming sequester in the U.S. That is a huge package of across the board spending cuts worth US$85 billion that are set to take effect at the end of the month unless lawmakers can agree on other cuts that would be more selective.
It would cut a big chunk out of American economic growth, a worrisome prospect for a struggling economy.
Read more Business News
- Market welcomes liquor vendorsPenticton / S. Okanagan
- Crime and the newsVernon / N. Okanagan
- Tentative sale of Ric's GrillKelowna
- MV Okanagan gets hung upVernon / N. Okanagan
|QHR Technologies Inc||1.15||-0.02|
|Anavex Life Sciences||0.275||-0.005|
|Copper Mountain Mining||2.82||0.00|
|Sunrise Resources Ltd||0.05||+0.025|
|Mission Ready Services||0.19||+0.01|
The Big Picture Geopolitical tensions rattle markets The spectre of rising geopolitical tensions in Ukraine and Gaza cast a shadow over an otherwise positive week in the markets. News that a passenger...
The mainstream media are finally waking up to something unusual in British Columbia – a labour shortage. If the experience of Alberta is a guide to our own future, the highly skilled labour will...
Photo: ContributedI have the pleasure of witnessing people delegate tasks quite often. Sometimes with tremendous success and sometimes with disastrous consequences. I have chaired a lot of committees...