American Doomers may be wondering what all the fuss is about, but Canadians have been transfixed in recent months with the rise of the Loonie. Here’s what the Toronto Star said earlier today.[1]
“The Canadian dollar continues to gain traction, breaking the 94 cent (U.S.) barrier for the first time in 30 years and buoyed by a forecast of one major bank that parity is in sight by the end of the year.The loonie settled at 94.20 cents, up 0.73 of a cent, yesterday – its highest close since July, 1977.
So you may ask, “Just what does a Loonie on a Roll look like?” Well wonder no longer.[2]
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Notes and References
[1]: “Loonie on a roll, parity with greenback in sight: Prime Minister Harper says any intervention would be `huge mistake’ “, by Tony Wong, Toronto Star, June 2, 2007.
[2]: “Tofu makes a fool of herself: take two — The Loonie bin”, posted by BaconNTofu, YouTube video, October 24, 2006.
Mr. Twist and I have found ourselves divided on a strong Loonie. A couple of his largest competitors are based in Canada, so he’s really appreciated that Canadian goods are now more expensive. I however, found it annoying that when I visited B.C. a couple of weeks ago, my poor U.S. dollar was at a record low.
I guess it was a good thing I didn’t have much time for shopping.