Saturday, September 29, 2007

canadian loonie beats US dollar, first time in 30 years

canadian loonie beats US dollar, first time in 30 yearsfrom canadian press: The loonie rose sharply and held onto its gains on Friday, ending the trading day above the U.S. dollar for the first time in nearly 31 years.

The Canadian dollar finished up two-thirds of a cent at 100.52 cents US continuing its spectacular tear and marking the highest close since Nov. 25, 1976.

The jump has been partly motivated by the U.S. greenback, which has weakened in the face of a credit crisis sparked by the U.S. subprime mortgage market.
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