By Robert Presser on December 3, 2009
This year has been a seesaw for the Canadian Dollar. Plunging to the 80 cent USD range during the onset of financial crisis of 2008 and retesting those lows in March of this year, our currency has recovered to trade in a relatively tight range of 92 to 97 cents US over the past two months. The recovery in our dollar has paralleled the recovery in stock markets and commodities, especially oil. Sadly, Canadians don’t look at the broader currency picture – while our Loonie is stronger against the US greenback, the USD continues to fall to ever deeper lows against a broader index of international currencies. The US is pursuing a weak dollar policy despite public statements to the contrary and Canada is along for the ride.
