Loonie cruises near 90 cents US - Democratic Underground

Spazito

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Mon May-01-06 01:57 PM
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Loonie cruises near 90 cents US

The Canadian dollar continued its upward trajectory on Monday as market watchers suggested it is headed back to parity with the U.S dollar.

In afternoon trading, the loonie was going for 89.98 cents US, up 0.53 cents from Friday's close.

The Canadian dollar has been on a tear recently, rising from 86.01 cents US at the end of March to 89.26 cents US at the end of April.

With the loonie approaching 90 cents US, some economists are now suggesting that a return to parity with the U.S. dollar is only a matter of time.

more

http://www.cbc.ca/story/business/national/2006/05/01/loonie-060501.html

It has been fascinating to watch the loonie climb against the US dollar, how high will it go?

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