By
The Canadian dollar retreated sharply to a session low of C$1.1305 to the greenback, or 88.46 U.S. cents, following the news, which also sent oil prices falling to a new four-year low.
The currency, which was underperforming most other major counterparts, had closed at C$1.236, or 89.00 U.S. cents on Wednesday. Trading was extremely light, however, due to the U.S. Thanksgiving holiday.