TORONTO — The Canadian dollar was down more than one-third of a U.S. cent ahead of trading on North American stock markets.
The loonie traded at 76.53 cents US, down 0.39 from Monday.
The decline came as currencies around the world responded to a move by China's central bank, which lowered the yuan's value relative to the U.S. dollar by nearly two per cent to the lowest in nearly three years.
The Dow Jones industrial futures were down 84.0 points at 17,469.0, the Nasdaq futures declined 3.0 points to 4,563.0, and the S&P 500 futures dropped 8.1 points to 2,091.7.
On the commodity markets, the August gold contract rose $6.30 to US$1,110.40 an ounce, the September crude contract was down 72 cents at US$44.24 a barrel and the September contract for natural gas was down three cents at US$2.81.
The S&P/TSX composite index closed Monday at 14,466.39, up 163.69 points.
The Canadian Press