The Loonie Keeps Going Up

[bjarvis]

The Canadian dollar rose to $1.08380 USD today and may keep going up tomorrow.

I'm as happy as any that Canadians are able to go on an international spending spree, have cheaper vacations in tropical climates during the long winter and such, but seriously: there will be some ugly economic consequences if this keeps up and Canada's balance of trade goes to hell. Better a soft & controlled landing than a harsh crash later.

Comments

[brunorepublic.livejournal.com]

Wouldn't a better title for this post be "The US dollar keeps going down"?

Against most other currencies, the loonie has gone up somewhat, but the real story here is that the US dollar is doing very badly right now.

[madknits.livejournal.com]

Against the British pound.
Against the Euro.
Against the Canadian dollar.

I think it's more of the failed economic policies of our great and glorious leader.

[bjarvis.livejournal.com]

Yeah, that's a more objective way of putting it. If I were in the news business, that's the angle I'd use. Alas, my narrow world is only concerned about the US/Canadian exchange because of the occasional personal financial transfer.

What's the US dollar worth against Canadian Tire money these days?

[trawnapanda.livejournal.com]

It's certainly a significant weakness in the US dollar; but also partially because the loonie is seen as a petro-currency, and with crude headed for $100 a barrel, the loon is going to stay high for a while.