Canadian Dollar Slides to 1.3969 as Oil Falls Below $90 and BoC Pause Bets Build
Updated
Updated · Bloomberg · Jun 9
Canadian Dollar Slides to 1.3969 as Oil Falls Below $90 and BoC Pause Bets Build
3 articles · Updated · Bloomberg · Jun 9
Summary
The loonie fell to 1.3969 per US dollar on Tuesday, its weakest level since December and its lowest point of 2026.
Oil dropping below $90 a barrel added pressure because crude is a key Canadian export, amplifying the currency's decline.
Traders also increasingly expect the Bank of Canada to leave its key rate unchanged at Wednesday's policy decision, reinforcing bets Canada will lag global peers on rate increases.