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it’s about time the canucks had the upper hand


loonie

From our international currency banker this morning:

The Canadian dollar reached parity [1.0000] with the U.S. currency for the first time in 31 years, supported by lofty commodity prices, a strong domestic economy and concerns about a U.S. economic slowdown. With the Fed’s half point interest rate cut in its overnight funds target, Canadian and US interest rates are also very close to being the same. Time for a currency union? I told the lady at Starbucks it was time to accept loonies; she was not impressed.

The dollar is again at a fresh 15-year low against the basket of major currencies. The euro rose to a record 1.4064. Gold surged to a 28-year high above $735.85 an ounce. The USD was weighed on after Saudi Arabia refused to cut interest rates in line with the Fed for the first time, fueling speculation that it is prepared to break the dollar currency peg. However, there have been no comments from Saudi officials hinting at this.

Now if only we could reach parity with Canadian foreign policy. Or their defense spending. Or their marriage equality. Or their….

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This entry was written by slim and posted on September 20, 2007 at 12:56 pm and filed under Dept. of just Sayin'. Bookmark the permalink. Follow any comments here with the RSS feed for this post. Post a comment or leave a trackback: Trackback URL.

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  1. “Now if only we could reach parity with Canadian foreign policy. Or their defense spending. Or their marriage equality. Or their…”
    .
    Yup. Then we, too, could become the international punch line that IS CANADA, eh?

    Ya hoser.

    [Reply]
    1. Above comment written by John EdwardsNo Gravatar on September 21st, 2007 at 8:04 am (replies, if any, are attributed separately above).

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    2. Above comment written by RichNo Gravatar on September 21st, 2007 at 9:32 am (replies, if any, are attributed separately above).
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