Canadian dollar hits nearly four-month low as war raises growth concerns - reuters.com

The Canadian dollar fell to its lowest level in almost four months on Thursday, as escalating geopolitical tensions and concerns about global economic growth weighed on the currency. The loonie, as the Canadian dollar is known, weakened against its U.S. counterpart, trading at C$1.3650 per U.S. dollar, or 73.26 U.S. cents. This marks the lowest closing level for the loonie since mid-January. The decline comes amid a broader market sell-off, with investors seeking safe-haven assets as the conflict in Eastern Europe intensifies. The ongoing war has raised fears of supply chain disruptions, higher inflation, and slower economic growth worldwide, all of which could negatively impact Canada's export-oriented economy. Analysts expect the Canadian dollar to remain under pressure in the near term, with potential for further declines if the geopolitical situation does not stabilize.