Loonie soars as U.S. greenback falls and crude oil prices surge
http://ca.news.yahoo.com/s/capress/081030/national/soaring_loonie
Loonie soars as U.S. greenback falls and crude oil prices surge
2 hours, 18 minutes ago
By The Canadian Press
TORONTO - The Canadian dollar is continuing its trek skywards in overseas trading.
The loonie is trading overseas at 83.86, up more than two full U.S. cents from Wednesday's close. On Wednesday, the dollar had one of its biggest single-day jumps in history as the value of the U.S. greenback eroded against other major currencies including the euro and British pound.
Traders also point to higher prices for oil because Canada is an oil exporting country and the loonie is a resource-based currency.
It ended Wednesday's session ahead 3.67 cents to 81.63 cents U.S.
Wednesday's increase was the biggest intraday daily gain ever for the loonie, beating a record set in the early 1970's, according to Bank of Canada data.
http://ca.news.yahoo.com/s/capress/081030/national/soaring_loonie
Loonie soars as U.S. greenback falls and crude oil prices surge
2 hours, 18 minutes ago
By The Canadian Press
TORONTO - The Canadian dollar is continuing its trek skywards in overseas trading.
The loonie is trading overseas at 83.86, up more than two full U.S. cents from Wednesday's close. On Wednesday, the dollar had one of its biggest single-day jumps in history as the value of the U.S. greenback eroded against other major currencies including the euro and British pound.
Traders also point to higher prices for oil because Canada is an oil exporting country and the loonie is a resource-based currency.
It ended Wednesday's session ahead 3.67 cents to 81.63 cents U.S.
Wednesday's increase was the biggest intraday daily gain ever for the loonie, beating a record set in the early 1970's, according to Bank of Canada data.
