Loonie climbs above parity with U.S. greenback
Posted Jan 26, 2012 7:36 am.
This article is more than 5 years old.
For the first time in three months, the Canadian dollar cleared parity with the U.S. greenback.
The Canadian dollar is being propelled higher by the U.S. Central Bank.
The FED, in its monetary policy announcement Wednesday afternoon, pledged to keep an ultra low interest rate environment through 2014 as the U.S. economy, while showing recent signals of a rebound, is still not growing fast enough.
That decision kicked-off a wave of buying for everything other than the U.S. dollar.
The buying vaulted the Canadian dollar above parity for the first time since November 1st.
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