Loonie to Kiwi Tumble as Canada Rate Cut Heralds Stimulus Wave
Crude-oil decline highlights challenge facing resource-linked economies
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Commodity currencies slumped amid speculation an interest-rate cut from the Bank of Canada may augur more monetary stimulus by resource-producing nations.
The Canadian dollar fell to its lowest since 2009 as policy makers lowered borrowing costs to stimulate an economy struggling with the declining price of oil, its major export. The New Zealand and Australian currencies also tumbled to multi-year lows.