Canadian dollar dips below 70 cents US for first time since March 2020

The Canadian dollar dipped below $0.70 US on Tuesday, the first time it has done so since the onset of the COVID-19 pandemic in March 2020, according to Bloomberg data.The dollar's move follows a chaotic start to the week in which Finance Minister Chrystia Freeland announced her resignation from Prime Minister Justin Trudeau's cabinet.The federal government later unveiled a fall economic update that revealed a $61.9 billion deficit for the 2023-2024 fiscal year, blowing its deficit target by mor