But, since the start of March, the Canadian dollar has fallen 1.3 per cent against the U.S. dollar as prospects for the Canadian economy have also dimmed. "Prospects for Canadian dollar have shifted considerably to the downside over the medium-term. "To put it bluntly, the Canadian dollar has established itself uniquely as a "problem child" in the G10. Then, the economy registered a technical recession and the bank provided "insurance cuts" due to the collapse in oil prices." "As we've stated many times in the past, the Canadian dollar - crude oil correlation is hardly stable," Rai said in a note.

Source: CBC News March 15, 2019 17:37 UTC