Loonie takes a well deserved dip

If you've been paying attention, you'll notice that every headline this year about the Loonie has been full of superlatives.

Yahoo!: Loonie has biggest one-day drop since 1971

The Canadian dollar fell more than 2.4 percent against the U.S dollar on Monday, in its biggest one-day decline since 1971, as risk aversion and lower commodity prices encouraged profit-taking after its record peaks last week.
At 1:20 p.m. (1820 GMT), the Canadian dollar was at US$1.0373, valuing each U.S. dollar at 96.40 Canadian cents, down 2.2 percent from Friday's close of US$1.0606, or 94.28 Canadian cents. The Canadian unit had earlier fallen as much as 2.47 percent to US$1.0344 against the U.S. dollar.

It's nice to know that even when there's a dip (and I suspect that the United States isn't finished playing silly buggers with their currency, so the C$ is far from done its rise), that business writers can still be all breathless in their reporting.

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