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Canada's dollar traded equal to the U.S. currency for the first time in three decades, capping a five-year run on the back of booming demand for the nation's commodities.
The Canadian dollar rose as high as $1.0008, before retreating to 99.91 U.S. cents at 3:08 p.m. in New York. It has soared 62 percent from a record low of 61.76 U.S. cents in 2002. The U.S. dollar fell as low as 99.93 Canadian cents today. The Canadian currency last closed above $1 on Nov. 25, 1976, when Pierre Trudeau was Canada's prime minister.
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Canadian Dollar Trades Equal to U.S. for First Time Since 1976
News Type: Event — Seeded on Thu Sep 20, 2007 4:02 PM EDT
Article Source: Bloomberg.com
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{"commentId":1039096,"authorDomain":"kurtstack"}
The dollar is definitely going to get weaker too. Best way to play it is to invest in gold via gold mining companies, or mutual funds holding gold mining companies.
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- 1 vote
#1 - Thu Sep 20, 2007 5:51 PM EDT{"canLink":false,"threadId":"152730","isPrivate":false}
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