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Why is the Canadian dollar lower against the U.S. dollar?

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*Canadian dollar at C $1.3004, or 76.90 U.S. cents. TORONTO, June 14- The Canadian dollar edged lower against its U.S. counterpart on Thursday as the greenback broadly climbed and after Italy added to Canada's uncertain trade outlook, saying it will not ratify the European Union's free trade accord with the country. read more

The Canadian dollar hit a new 11-year low today against its U.S. counterpart, as weak oil prices and a possible further interest rate cut continue to hurt sentiment in Canada's currency. The loonie closed at 75.87 cents US, down more than half a cent from Friday's close. read more

Source: cbc.ca

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