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The Canadian dollar is on a downward trend, as investors are increasingly worried about the Canadian economy and the global outlook.

The currency dipped to 76.20 US cents US, the lowest level since November 2011.

But a strong performance in the oil patch, a rebound in commodity prices and a rise in the value of the greenback have all helped boost the currency in recent months.

Canadian dollar index: 0.65%Source: Bloomberg DataThe dollar has strengthened against the U.S. dollar in recent weeks, but that has been offset by a drop in the greenbacks.

Canadian officials said they’re confident that the U