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Can anything stop the falling Canadian dollar?

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There's little to stop the Canadian dollar falling still further; that's according to Saxo Bank's Head of FX Strategy, John Hardy.  Already down some 20 percent in twelve months the CAD has been hit by falling energy prices, recession fears and an upcoming general election in October.

The loonie, as it's known, is in a race to the bottom along with the other commodity currencies, the Aussie and New Zealand dollars according to John. Although USDCAD is in focus at the moment, it could soon be the Aussie that feels the heat next.