There was a slight reprieve for the loonie for a couple of days as the price of oil found some solid footing around the $45 level.
It’s after the unceremonious drop from the mid-50’s in the space of four weeks.
However, the rout is on again as oil is showing weakness Tuesday morning, and has dragged the dollar back down, trading at just over $46 per barrel.
The dollar hit a near fourteen year low at 72-and-a-half cents last Friday before the slight rebound, as the lower commodity prices and worries about a possible massive change to the North American Free Trade Agreement and now the troubles of besieged mortgage lender Home Capital have all played negatively.
Also worrisome is the outcome of the B.C. election, and the future of big oil and gas projects in the region.