After hovering just above parity for the past week, the Canadian dollar has strengthened against the U.S. dollar, nearly hitting a seven-week high around $1.04 in morning trading.
Here’s a (link) to a Reuters article explaining what’s happening.
It appears rising commodity prices and better-than-expected economic data in Canada are factors in the rise. It’s been a strong run for the loonie vs. the U.S. dollar, remaining above parity for the first six months of 2011.
The Loonie has one big advantage over its American cousin – no self-important posturing by an obstructionist minority obscuring the reliability of their debt.
No military adventurism to bankrupt their nation,
no winner-take-all social economic model
and no qualms about selling off their resource base whichever way the buyers dictate – almost.
Four big advantages,