Canadian Manufacturing

Battered loonie hits lowest value since 2009

The dollar has been sinking since the Bank of Canada this week announced it was cutting its key interest rate



TORONTO—The Canadian dollar has dropped below 77 cents US for the first time since March 2009.

The loonie traded at 76.97 cents US early July 17, down 0.13 of a U.S. cent from the previous day’s close.

The dollar has been sinking since the Bank of Canada this week announced it was cutting its key interest rate.

Dow Jones industrial futures were down 10 points at 18,010.0, the Nasdaq futures rose 21.5 points to 4,619.3, and the S&P 500 futures advanced 1.5 points to 2,118.4.

On the commodity markets, the August gold contract fell $5.60 to US$1,138.30 an ounce, the August crude contract was down 60 cents at US$50.31 a barrel and the August contract for natural gas was down one cent at US$2.84.

The S&P/TSX composite index closed Thursday at 14,731.08, up 68.80 points.

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