A slump in crude and equities drove the Canadian dollar to its lowest level in almost a month yesterday (August 17th) with traders growing cautious of riskier assets.The downward movement came as crude slipped further at the beginning of the week, extending losses that took the commodity below $67 a barrel on the New York Mercantile Exchange.With crude being Canada's biggest export, the loonie sank on the downward movement, with the drop exacerbated by falls in US equities markets and other key bourses.In an interview with Bloomberg, Alexandre Belzile director of foreign-exchange trading at Laurentian Bank of Canada in Montreal, said that the loonie is following equities "tick by tick", adding that further losses are likely."A lot of good expectations are built in right now. We're open for disappointment," he added.However, oil moved up in electronic trading this morning, while the London Stock Exchange and Shanghai Stock Exchange both partially recovered from losses witnessed yesterday.