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Rosenberg: the outlook for the loonie is increasingly dicey

The loonie’s wings got further clipped last week, descending to fresh 4 1/2-year lows below 89 cents as investors gravitated to the greenback on prospects of sooner-than-expected interest rate hikes by the Federal Reserve and more sluggish economic growth ahead in Canada.

Alongside a positive week overall for U.S. equities -- the S&P 500 hit a fresh record intraday high earlier today -- that’s making the American stock market all the more profitable for Canadians already invested there.