Canadian dollar touches 3-year low

TORONTO - The Canadian dollar fell more than a cent to close at a multi-year low Tuesday as the greenback shot higher on data showing the U.S. trade deficit fell in November to its lowest level in four years.

The greenback also strengthened a day before the release of the minutes from the Federal Reserve meeting last month.

The loonie lost 1.05 cents to 92.83 cents U.S., its lowest close since early November 2009. The currency was further pressured by data showing Canada's trade deficit worsened slightly in November, rising to $940 million from $908 million in October.

The U.S. trade gap dropped 12.9 per cent to US$34.3 billion in November as exports rose 0.9 per cent, aided by a 5.6 per cent rise in petroleum exports. Imports dropped 1.4 per cent.  (more)

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