As most of you know, I live in SE Michigan, night clubs drive distance (if that’s your thing) from Canada. I didn’t go to my favorite Canadian ultimate tournament this year, so haven’t been in Canada for a while. So I was pretty darn shocked to hear this news:
The Canadian dollar breached 94 U.S. cents forthe first time in 30 years on Friday and analysts are speculating itwill be worth as much as the struggling U.S. greenback by year end.
Knownas the loonie because of the loon pictured on the one-dollar coin, theCanadian dollar closed at 94.22 cents in Friday trading â€” the highestit has been since July 1977.
It hit an all-time low of 61.79 cents on Jan. 21, 2002.
The latest surge comes after CIBCWorld Markets economists predicted the Canadian dollar will be worth asmuch as the greenback by the end of the year. That last happened inNovember 1976.
The Canadian dollar–the Loonie–has long been a kind of vacation time bonus for Americans. No longer, I guess. I’ll actually have to pay my way the next trip I make through Canada.