Canadian dollar tumbles below US80 cents

TORONTO (AP) -- The Canadian dollar has plunged under 80 U.S. cents on economic fears and falling commodity prices.

The currency traded at US79.80 cents on Wednesday morning, down US2.59 cents on the morning, after dropping US1.38 cents on Tuesday.

The Canadian dollar hit its all-time high of US110.31 cents last Nov. 7 and hadn't been below 80 cents since mid-2005.

Canada's central bank also cut interest rates on Tuesday.

(Copyright 2008 by The Associated Press. All Rights Reserved.)

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