Monday, July 2, 2007

The Loonie Keeps Rising


The Canuck buck hit 95.5 cents on Friday -- its highest level since Jimmy Carter was trying to ruin the U.S. economy. Rumors of the Canadian central bank raising interest rates as early as this month pushed the loonie to a 30-year high.
“Seems a good bet that commodity prices should go even higher and carry the Canadian dollar with them,” Chris Mayer reminds us. “If you are a U.S. dollar-based investor and have assets in Canada, this currency trend will only boost your returns.” Hmm… clever. And noteworthy.

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