Loonie falls more than two cents

The Canadian dollar fell more than two cents Wednesday, as the weakened American dollar also regained strength against the British pound, the euro and gold.

The Canadian dollar fell more than two cents Wednesday, as the weakened American dollar also regained strength against the British pound, the euro and gold. The loonie fell 2.29 cents to close at 90.22 cents US, down 2.29 cents on Wednesday, but had been as low as 89.94 cents US in trading during the afternoon. But even with the decline on Wednesday, the Canadian dollar is up substantially from the beginning of May when it was worth about 84 cents US. David Watt, senior currency analyst at RBC Capital Markets, said there was no obvious trigger for the American dollar’s revival on Wednesday but said its month-long decline had been overdone.