TORONTO—The loonie had its biggest single-day plunge in nearly 46 years yesterday, falling 2.19 cents against the American dollar as a bleak outlook for the world’s economies also pushed down the price of key commodities such as gold and oil.
Canada’s dollar ended the day at 98.49 cents (U.S.)—the lowest close in a month. The currency also had dropped sharply on Tuesday and continued lower throughout yesterday’s session, but the momentum picked up late in the afternoon.