Canadian analyst predicts all-time low for the loonie

The value of the Canadian dollar may drop to an all-time low by the end of the year.

The loonie slipped to 69.9 cents on the U.S. dollar on January 11, the first time it’s dipped below 70 cents since 2003, and Canada’s top-ranking forecaster says the decline hasn’t stopped.

David Doyle is an analyst for the Macquarie Capital Markets Canada Ltd. He was ranked the most accurate forecaster of the Canadian dollar by Bloomberg News and accurately predicted the loonie’s current decline to 69 cents in February 2015.