The Canadian dollar dropped below the U.S. $ 0.80

The Canadian dollar is now back under 80 U.S. cents, falling back into a zone of low support tested in late October. The loonie dropped all his $ 1.48 to close at 79.83 U.S. cents, its lowest level since Oct. 28. At that time, the Canadian dollar had slipped for two days to mark a low of 77.21 U.S. cents. It then rebounded above 80 U.S. cents. Analysts suggest that a speech by the Governor of the Bank of Canada, Mark Carney, could partly explain the drop today. In a speech in London, Mr. Carney said that the risk of lower economic growth and lower inflation are higher than a month ago. The governor reiterated that the central bank would probably have to cut interest rates further to try to maintain the strength of its economy. Investors also seemed to repatriate their capital to the United States, using the U.S. dollar and Treasury bonds as a safe haven facing a turbulent world economy.