The Canadian and American economies often move together, but the loonie is the latest sign that won’t be the case this time. The Canadian dollar has been plunging against the US dollar, a.k.a. Greenback. That loonie’s erosion was amplified this month as the two central banks diverged on outlooks for their respective economies, with the American economy set to outperform the Canadian economy significantly.

This kind of weakness hasn’t been observed outside of the deepest global recessions, and with Canada prioritizing non-productive investments—relief may not be around the corner.

Currency strength is an important economic lever, with a weak loonie having pros and cons. Advocates of a weak loonie against the greenback feel this helps make investment more attractive. Foreign companies essentially get a discount on everything from land to labor. Historically, this has helped revive real estate investment, and created well-paying jobs—notably with US tech giants, the film industry, and banking. However, a weak loonie isn’t a free ride.