Loonie reaches parity - MoneySense

Loonie reaches parity

Canadian buck reaches par with the American dollar this morning.


The moment we’ve all been anticipating arrived this morning: the dollar hit parity. According to the Globe and Mail, here’s why it matched the greenback:

“The currency is riding a wave of popularity with investors as oil prices hit 18-month highs, economic releases top forecasts and expectations grow that the Bank of Canada will hike its key lending rate this summer, well before the U.S. Federal Reserve makes a move. Canada is widely seen as leading economic growth among G7 countries this year.”