Money Minute: Why the dollar is sinking

When discussing the Canadian dollar, you have to consider oil prices, and vice versa. The two go hand-in-hand, which is why they've both hit a six-year low.

“There’s this very tight relationship between oil prices and the Canadian dollar, they move in tandem,” says Ivey professor Mike Moffatt. “Asking whether or not the Canadian dollar is going to go down or up is basically asking whether or not oil prices are going to go up or down.”