Loonie slips below 70 cents U.S. for second day in a row

TORONTO -- The Canadian dollar slipped below 70 cents U.S. on Wednesday for the second day in a row as the currency traded near lows set nearly 13 years ago.

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The loonie was at 69.92 cents U.S., down 0.22 of a cent, just after noon.

On Tuesday, Canada's currency fell below 70 cents U.S. for the first time since the spring of 2003.

It last closed below that mark at 69.76 cents U.S. on April 30, 2003.

The dollar's fall came as North American stock markets began Wednesday's trading session on a positive note but later weakened.

The Toronto Stock Exchange's S&P/TSX composite index was down 32.48 points at 12,341.42, joining American markets in the red.

The Dow Jones was down 96.97 points at 16,419.25, the S&P 500 index slipped 11.07 points at 1,927.61 and the Nasdaq dropped 38.538 points to 4,295.18.

On the commodity markets, the February gold contract was up $6.50 at US$1,091.79 an ounce and the crude contract was up 38 cents at US$30.80 per barrel.

Crude futures dipped below US$30 on Tuesday for the first time in years.


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