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.
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.
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