Loonie Back Above Parity

Canada’s dollar – or the “loonie” as it is referred to by most Canadians – is back above par with its US counterpart. The loonie has been within striking range of the dollar for the past week after briefly breaking par last Tuesday.

The loonie gained more than a third of a cent on Wednesday to rise to 100.18 cents. Most experts believe the Canadian dollar will remain higher than the US greenback for at least the next three months as the Canadian economy has been pegged to outperform the rest of the G8 countries for the remainder of 2010.

Source: The Canadian Press

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