CANADIAN DOLLAR PARITY

Is the Loonie Really Losing it?

Stable is not a word that can be used to describe much in today's economy. A notable exception is the Canadian dollar. The loonie has soared in a reasonably tight range around parity with the U.S. dollar for 3 years now. Although exporters would prefer a lower level, the stability has made activity and cash flows somewhat more predictable. Now, the loonie is losing some loft; what's happening?

Loonie Drops Below Parity

TORONTO -- The Canadian dollar was below parity with the U.S. currency Wednesday morning as turmoil in Greece persuaded traders to avoid riskier assets like the loonie and opt for the perceived safety...