TORONTO -
The Canadian dollar is down more than two cents, falling below 80 cents US for the first time in several weeks.
Uncertainty about the global economic climate is pushing the loonie lower, as traders continue to look for safe investment havens.
George Davis, chief technical analyst at RBC Capital Markets, says there was no reassurance from a meeting of G7 finance ministers and central bankers, from which there emerged little or no economic policy changes.
Also, a report from debt-rating agency Moody's overnight highlights risks to the European banking system has put additional downward pressure on the price of oil and stock markets.
The negative sentiment has sent the American dollar higher, as investors move to it as a safer currency bet.
In early trading, the loonie was down 2.25 cents at 79.15 cents US.
