Loonie close to parity
Posted Apr 6, 2010 04:40:37 PM.
This article is more than 5 years old.
The Canadian dollar reached parity with the U.S. dollar several times in the Tuesday trading session.
It ended the day at 99.88 cents U.S.
Rising oil prices and continued economic instability have been driving the U.S. dollar down in recent weeks.
Analysts say Canada is being seen as the new Switzerland of stability, but with domestic assets the world wants.
John Valorzi is the Business Editor with The Canadian Press.
He tells 570 News the dollar will probably hit 1.04 by the end of the year.
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