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Loonie soars to modern day high on strong employment growth
CanWest News Service
OTTAWA -- The Canadian dollar soared to a modern day high on Friday, rising above 1.07 US, after a government report showed the country's unemployment rate fell to a 33-year low of 5.8 per cent in October as 63,000 new jobs were added to the economy.
The loonie, which closed Thursday at $1.0512 US, was at 1.0715 in early trading Friday -- levels not seen since the late 1880s and well before official monetary record were kept.
The Canadian dollar is now worth more and yet I'm still paying more than US consumers for most products, ie bran new vehicles. I'll be importing my next vehicle from the US! A little over a year ago the loonie was trading at $0.60 and its now $1.07 Craziness!
CanWest News Service
OTTAWA -- The Canadian dollar soared to a modern day high on Friday, rising above 1.07 US, after a government report showed the country's unemployment rate fell to a 33-year low of 5.8 per cent in October as 63,000 new jobs were added to the economy.
The loonie, which closed Thursday at $1.0512 US, was at 1.0715 in early trading Friday -- levels not seen since the late 1880s and well before official monetary record were kept.
The Canadian dollar is now worth more and yet I'm still paying more than US consumers for most products, ie bran new vehicles. I'll be importing my next vehicle from the US! A little over a year ago the loonie was trading at $0.60 and its now $1.07 Craziness!
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