LOONIE HITS PARITY
Sep 20, 2007 06:15 PM
THE CANADIAN PRESS
"Boosted by high commodity prices and a weakening U.S. dollar, the loonie reached parity with the greenback Thursday for the first time in nearly 31 years, promising to boost the energy and import sectors and give consumers cheaper vacations but spelling more trouble for Canada's industrial heartland.
The loonie, which has been gaining on its American counterpart since bottoming out below 62 cents in early 2002, has recently been on a spectacular run, up from 95 cents at the start of September and from under 90 cents last spring.
Soaring demand for Canadian commodities, ranging from oil and wheat to coal, potash, nickel and zinc – have helped propel the currency, while a weakening American economy has dragged down the greenback, the world's most widely held and traded currency."
Birch Run, anyone?
THE CANADIAN PRESS
"Boosted by high commodity prices and a weakening U.S. dollar, the loonie reached parity with the greenback Thursday for the first time in nearly 31 years, promising to boost the energy and import sectors and give consumers cheaper vacations but spelling more trouble for Canada's industrial heartland.
The loonie, which has been gaining on its American counterpart since bottoming out below 62 cents in early 2002, has recently been on a spectacular run, up from 95 cents at the start of September and from under 90 cents last spring.
Soaring demand for Canadian commodities, ranging from oil and wheat to coal, potash, nickel and zinc – have helped propel the currency, while a weakening American economy has dragged down the greenback, the world's most widely held and traded currency."
Birch Run, anyone?
posted by Sen | 9/20/2007 11:03:00 PM
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1 comments
1 Comments:
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Anonymous
California here we come!
9/21/2007 08:17:00 AMVegas anyone? :p
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