Loonie continues slide below 92 cents US

The Canadian dollar continued to drop on Thursday, sinking below 92 cents US before recovering in early trading.

The currency is at lowest level since the fall of 2009, hammered by strong economic news in the U.S. and lower oil prices, as a widening Canadian trade deficit. At midday it was trading at 92.14...

One of the problems is an economy heavily reliant on oil exports, at a time of declining oil prices. Today’s oil futures for February delivery were down 29 cents in New York to $92.04 US a barrel after flirting around $110 most of last year...

This has been excertped from the 9 January 2014 article by the CBC, and is available in its entirety at http://www.cbc.ca/news/business/loonie-continues-slide-below-92-cents-us-1.2490409.