Littleprincess2010
DIS Veteran
- Joined
- Jan 17, 2010
- Messages
- 584
YAY!!! 
http://www.timescolonist.com/Dollar+pops+over+cents/3632780/story.html
Dollar pops over 99 cents U.S.
OTTAWA The continuing slide in the U.S. dollar has pushed the loonie above 99 cents U.S. for the first time in just over five months.
The Canadian dollar has gained more than 5.5 per cent against the U.S. currency since September alone. The greenback, meanwhile, has been on a sharp decline for the past four months as the U.S. economy has weakened and the market began to price in further quantitative easing by the U.S. Federal Reserve, expected in November.
The U.S. dollar index, which measures the greenback against a basked of six major currencies, is trading Wednesday at 77.387, which is still 10 per cent above its 2008 low of 70.70 and its 2009 low of 74.17, Scotia Capital currency strategist Camilla Suttton said in a note.
"It seems reasonable that we will move closer to the 2009 low. The combination of a weak U.S. economic recovery, the prospects for quantitative easing, the lack of a credible fiscal plan, and a political environment that could well end in deadlock leaves the outlook for the U.S. dollar as negative," Sutton said.
"A period of rest may be approaching, however the U.S. dollar downward trend is strong and we expect that it will close the year at lower levels than it is currently trading at."
Sal Guatieri, senior economist at BMO Capital Markets, said at this pace the Canadian dollar is overvalued by as much as five to 10 per cent, but current momentum could drive it to parity "any day."
© The Financial Post
Read more: http://www.timescolonist.com/Dollar+pops+over+cents/3632780/story.html#ixzz11bh8rZWr
http://www.timescolonist.com/Dollar+pops+over+cents/3632780/story.html
Dollar pops over 99 cents U.S.
OTTAWA The continuing slide in the U.S. dollar has pushed the loonie above 99 cents U.S. for the first time in just over five months.
The Canadian dollar has gained more than 5.5 per cent against the U.S. currency since September alone. The greenback, meanwhile, has been on a sharp decline for the past four months as the U.S. economy has weakened and the market began to price in further quantitative easing by the U.S. Federal Reserve, expected in November.
The U.S. dollar index, which measures the greenback against a basked of six major currencies, is trading Wednesday at 77.387, which is still 10 per cent above its 2008 low of 70.70 and its 2009 low of 74.17, Scotia Capital currency strategist Camilla Suttton said in a note.
"It seems reasonable that we will move closer to the 2009 low. The combination of a weak U.S. economic recovery, the prospects for quantitative easing, the lack of a credible fiscal plan, and a political environment that could well end in deadlock leaves the outlook for the U.S. dollar as negative," Sutton said.
"A period of rest may be approaching, however the U.S. dollar downward trend is strong and we expect that it will close the year at lower levels than it is currently trading at."
Sal Guatieri, senior economist at BMO Capital Markets, said at this pace the Canadian dollar is overvalued by as much as five to 10 per cent, but current momentum could drive it to parity "any day."
© The Financial Post
Read more: http://www.timescolonist.com/Dollar+pops+over+cents/3632780/story.html#ixzz11bh8rZWr
Our balance isn't due til Dec 28 so I keep hoping for a bit higher. How cool if we are over par when the time comes.
$0.63 would have totally prevented our trip!! Im so glad those days are over 
