NEW YORK (YBH.ME) – The Canadian dollar, or loonie as it is commonly called in Canada, may reach parity with the ailing U.S. dollar as shortly as November.
Falling dollar may be eclipsed by Canadian currency.
After a three week run fueled by surging oil and equity markets, the loonie has touched a 14-month high against the greenback. According to leading economists the Bank of Canada will also leave interest rates at historically low levels when the central bank meets on October 20th.
The U.S. and Canadian dollars were last reached parity in July of 2008. The situation is more dire now as the U.S. deficit has ballooned since then.
The exchange rate was C$1.0370 per U.S. dollar on Friday.
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John Romano is the publisher and editor of Yes, But However!, a musician, a former political correspondent for BBC Radio London, and a serial web entrepreneur. Follow him on twitter: twitter.com/yesbuthowever or John Romano on Google+John Romano article archive.
