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pampango

(24,692 posts)
Wed Feb 1, 2012, 05:28 PM Feb 2012

Loonie closes above parity [View all]

The Canadian dollar closed above parity Wednesday for the first time since the end of October.

The loonie closed up .37 of a cent at 100.09 cents US.

Currency traders were encouraged by manufacturing data for China and the United States, which eased concerns that the economic growth rates of both countries is slowing.

The Institute for Supply Management said its U.S. manufacturing index for January came in at 54.1, which showed continuing expansion but the reading was slightly short of economist expectations for a 54.5 reading.

http://www.cbc.ca/news/business/story/2012/02/01/loonie-close-parity.html

Congrats, Canadians. It makes it a little more expensive for most of us to visit your country, but that's the price you pay for having a relatively strong economy and progressive society.

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