Since consumer spending is a major economic driver, any weakness in spending negatively impacts our economy and the Bank of Canada's ability to raise interest rates. Since interest rates are higher in the U.S., the analysts expect capital to leave Canada in favour of the U.S. This caused a rush of selling of the Canadian dollar and its value dropped from 77 cents to 68 cents US. A weakening currency isn't necessarily a bad thing, particularly as we are an exporting nation. I like to keep some U.S. dollars on hand as it gives me the flexibility to choose which currency to use when travelling or investing.

Source: CBC News March 25, 2019 14:00 UTC