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Gold9472
05-31-2006, 08:36 AM
US dollar hits 28-year low vs Canadian dollar

http://ca.today.reuters.com/news/newsArticle.aspx?type=topNews&storyID=2006-05-31T070302Z_01_L31405821_RTRIDST_0_NEWS-MARKETS-DOLLAR-CANADA-COL.XML&archived=False

(Gold9472: Damn canucks.)

Wed May 31, 2006 3:03 AM EDT

LONDON (Reuters) - The U.S. dollar hit a 28-year low against the Canadian dollar on Wednesday, extending broad-based losses and breaking through a key technical support level at C$1.0975.

By 0650 GMT, the U.S. dollar has fallen as low as C$1.0963, down about 0.15 percent on the day and hitting its lowest level since January 1978.

"It's primarily a dollar phenomenon. It broke through C$1.0975, which was the previous low and a big technical level and that kicked in various stops," said Adam Cole, senior currency strategist at Royal Bank of Canada.