The Canadian dollar was up more than one cent in early trading today, rising to 98 cents compared to the U.S. dollar. Here’s a ( link) to a Canadian Business magazine, which provides quite a few details about what’s happening.
The jump is happening along with today’s big stock market rally. Along with moves by various global banks to address Europe’s financial woes, China also announced steps to try and encourage business activity. Positive movement in the global markets has had a direct impact on the strength of the loonie recently, since an uptick in global markets mean increases for resources like metals and oil.