US Dollar Decline - $1CDN = 91 cents US

[JimmyCracksCorn]

The loonie closed at 90.87 cents US, up exactly one cent from Monday's close. That was the dollar's highest level since Jan. 18, 1978, according to the Bank of Canada. In earlier trading Tuesday, it traded as high as 91.11 cents US.

http://www.cbc.ca/story/business/national/2006/05/09/gold.html

Crazy stuff. Canadian dollar jokes are pretty much obsolete now, and parity is looking more and more like a possibility.

Is parity inevitable? Who benefits most from such an arrangement? Certainly not Canadian manufacturers... at least in the short run.

Discuss.

[Arrian]

It's because we're caving into the funny money thing. The US Dollar is supposed to be all green and somber looking. In the last few years it's getting more and more bastardized. Pretty soon we'll have dollars that look like monopoly money and are worth as much.



-Arrian

[JimmyCracksCorn]

The new 20 is green, but not somber. I love it.

[Kontiki]

It's not so much a US dollar decline as a Canadian dollar appreciation.

[Arrian]

****ing monopoly money! You finish 2nd in beauty contest, collect $10!

It's actually not that bad, as funny furriner money goes.

GREENBACKS. End of story.

-Arrian

[JimmyCracksCorn]

Originally posted by Kontiki
It's not so much a US dollar decline as a Canadian dollar appreciation.

It is right now. But the rise to the 85 cent level was pretty much the result of a decline.

[JimmyCracksCorn]

Originally posted by Arrian
****ing monopoly money! You finish 2nd in beauty contest, collect $10!

It's actually not that bad, as funny furriner money goes.

GREENBACKS. End of story.

-Arrian

I like the 10 too.

[DAVOUT]

Originally posted by Kontiki
It's not so much a US dollar decline as a Canadian dollar appreciation.

The US$ is also declining against the € which has no reason to appreciate.

[Arrian]

Look at that schnozz.

-Arrian

[Wezil]

That schnozz was usually red (not purple). Sir John liked his drink.

[Whoha]

Originally posted by Kontiki
It's not so much a US dollar decline as a Canadian dollar appreciation.

No, the dollar is in freefall.

[Kontiki]

Canadian dollar has done well against other major currencies over the past year or so as well.

[Q Classic]

Originally posted by Kontiki
It's not so much a US dollar decline as a Canadian dollar appreciation.

...but nobody appreciates Canadian currency. Anybody who uses it is a loon.

*rimshot*

[SpencerH]

I remember when the canadian dollar was worth around 1.05 USD.

I'm old.

It didnt last long, but it still happened.

[DanS]

AFAIK, Canada has a strong trade balance and is strong in commodities, which have been booming. It seems reasonable to guess that the Canadian Dollar would appreciate as long as this remains the case.