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The Canadian dollar has experienced a significant depreciation, hitting 69 cents against the US dollar. Forecasts for January 3, 2025, raise concerns about further weakness in the currency. This decline could be attributed to various factors such as the performance of the Canadian economy, commodity prices (especially oil, a major Canadian export), interest rate differentials between Canada and the US, and global economic conditions. Such fluctuations often impact trade, investment, and inflation.

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