The Canadian Dollar slips to a summer low on the Fed's rate hike

The Loonie trades at its weakest since early August, with USD/CAD just under 1.4000 after a 71-pip rise and a 0.51% gain. The Fed raised its rate a quarter-point to 3.75-4.00% and the Bank of Canada did not, which takes the distance between them from 1.375 points to 1.625.