Loonie moves lower for third consecutive day

"I HAVE CHOSEN TO PAINT THE LIFE OF MY PEOPLE AS I KNOW AND FEEL IT--PASSIONATELY AND DISPASSIONATELY. IT IS IMPORTANT THAT THE ARTIST IDENTIFY WITH THE SELF-RELIANCE,HOPE AND COURAGE OF THE PEOPLE ABOUT HIM,FOR ART MUST ALWAYS GO WHERE ENERGY IS."

--ROMARE BEARDON

 

Loonie moves lower for third consecutive day

A Canadian dollar is seen next to a series of U.S. dollars Wednesday, January 26, 2011, in Montreal. (THE CANADIAN PRESS/Paul Chiasson)

TORONTO — The Canadian dollar is down for the third consecutive day as traders move to U.S. dollar holdings and commodity prices weaken.
The loonie was down another 0.51 of a cent to 96.82 cents US this morning.
That's after falling more than 3.25 cents over the past two sessions as investors bailed out of anything remotely risky and piled into U.S. Treasury bonds.
The price of crude oil shifted below the US$80 a barrel mark.
The November crude contract on the New York Mercantile Exchange fell $2.27 to US$78.24 a barrel.