The Canadian dollar climbed above the $1.02 US level for the first time in seven months on Friday as the currency continued to rally following the Bank of Canada’s recent shift to a more hawkish tone and U.S. GDP figures disappointed the markets.
The loonie traded as high as $1.0204 before easing back to close at $1.0194, a gain of 3/10ths of a cent from Thursday’s close.
Data from the Bank of Canada show that the last time the loonie topped $1.02 was September 16, 2011. Read More…
What is fascinating is the US is on the verge of suffering another recession and so their dollar will only fall even further.
It isnt so much the CAD is doing well as the rest of the world is doing worse.
Ah maybe i am understanding things wrong but doesnt a high dollar mean that canadian made exports will be higher for businesses and in the end hurt us?
Canada is proud and experiencing a boon economy and so why shouldnt we have a boon in our currency
So what does this all mean? Can i go out and buy bread for cheaper now?
How the mighty has fallen (US dollar). I am now routinely going with my family over the border to buy cheap stuff to bring back 🙂
This must be great news for conservative party since they have been taking a beating as of late.
Back in January i did a lot of stock buying of US securities. Now i am taking a hit with the constant climb of the loonie 🙁
Rise baby! Rise!
Cant last forever. This seems cyclic. In time the USD will take over our dollar and the world will be at peace again.
Now if saving account interest rates can get back to normal (remember when it was routinely 4%) then all will be good.