LEBANON, Lebanon — Canada’s currency has dropped to a new all time low against U.S. dollars as the U.K. prepares to leave the European Union.
The Canadian dollar is down 0.7% to 69.35 Canadian dollars per dollar, the lowest since February, according to the Bank of Canada.
The pound has also lost more than 1% to $1.23 per pound.
Canada’s benchmark rate has fallen to 2.25%, down from 3.1% earlier in the day.
The central bank is now keeping a close eye on the U, which it sees as the next major hurdle to Brexit, as well as on the potential economic fallout of U.N. sanctions.
The currency is down 1.9% against the greenback in the past year, as investors and politicians alike are taking stock of how the U of A. has been hurt by Brexit.
Canada and the U are already trading at their lowest rates in more than a decade.
The British parliament will debate its next move in the Brexit negotiations on Wednesday.