Loonie edges up but still below 73 cents US, TSX down

TORONTO -- The Canadian dollar was up moderately early Monday but remained below 73 cents US as the Toronto Stock Exchange continued to fall.

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The loonie was trading at 72.87 cents US, up 0.10 of a U.S. cent as the S&P/TSX composite index fell 41.30 points to 12,748.65, after dropping nearly 227 points on Friday.

The Dow Jones average of 30 stocks was up 11.76 points at 17,276.97, the broader S&P 500 index rose 3.36 points to 2,015.73 and the Nasdaq gained 6.35 points to 4,939.82.

The low price of oil was a major factor that pushed the Canadian dollar below 73 cents U.S. on Friday for the first time since mid-2004.

The January crude contract was down 18 cents at US$35.44 a barrel Monday morning. The February gold contract fell $3.90 to US$1,071.80 an ounce and the January contract for natural gas was down 11 cents at US$1.88.



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