Canadian dollar begins to slide

The Canadian dollar fell on Thursday from an all-time high as worries grew over the effect of the US subprime mortgage crisis on corporate profits and stocks slumped. Analysts said that the market was "definitely overextended".

The Canadian dollar slipped to $1.05 against the greenback from $1.06. The US dollar strengthened against 12 of the most actively traded currencies, only falling against the yen, the pound and the Taiwanese dollar.

Canadian and US target interest rates are now at the sa

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