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The misfortunes of oil have been hard on the Canadian currency, which has followed oil prices lower. Canada's economy is dependent on oil and economists believe falling prices will slow 2015 growth.(Canadian dollar plunges to 5-year low as oil dips below $60 - CBC news Dec. 11 2014)

Does the bold part mean "which came after oil prices lower"? If so, why "oil prices lower" instead of "lower oil prices"? Thank you.

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First of all, it is poorly worded.

I would take it to mean that both are worth less at the same time. A better way to word it would be this:

The misfortunes of oil have been hard on the Canadian currency, which has lowered in value similarly to oil prices.

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