The loonie continued its pre-Easter Break drop in value Thursday, adding to the more than two cents it fell in currency trading Wednesday.

Currencies whose values were bulked up by strong commodities have been hit the hardest over the last two days, as commodity prices worldwide drop.

At 1 p.m. Eastern Time, the Canadian dollar was trading at US 97.4 cents, one cent lower than the 98.49 cents it finished on Wednesday, bringing the Canadian dollar to its lowest value in two months.

Commodity-linked currencies like the loonie have been under pressure against the U.S. dollar, since commodities like gold, oil and other resources began dropping in value over fears of an imminent slowdown in the American economy.

Against the U.S. greenback, the Canadian dollar dropped 1.2 per cent yesterday to C$1.0265, the Australian dollar fell two per cent, and the New Zealand dollar dropped 1.7 per cent to $0.7880.

Wednesday's fall of 2.19 cents was the larges single-day drop in the value of the Canadian dollar since 1962.