Article content

The Canadian dollar is in the midst of its worst losing streak in more than two years as global economic growth looks set to derail the country’s plan for an export-led recovery.

The currency plunged to an 11-year low after Norway, another large oil exporter, unexpectedly cut interest rates and said it may ease monetary policy even further. Signs that economic growth in China, the world’s biggest commodity consumer, is slowing down have sent prices for everything from oil to copper plunging and prompted speculation demand won’t be quick to recover.

We apologize, but this video has failed to load.

tap here to see other videos from our team. Try refreshing your browser, or Canadian dollar hits 11-year-low in its worst losing streak since 2013 Back to video





[npthinglink]

“All industrial commodities, not just oil, are at multiyear lows,” said Greg Anderson, the global head of foreign-exchange strategy at the Bank of Montreal. “The concern is demand from emerging Asia — not only is it weak now, but it will stay weak.”