Loonie soars above 82 cents U.S. - MoneySense

Loonie soars above 82 cents U.S.

Highest move in two years


TORONTO — Canada’s dollar has been trading above 82 cents US this morning, building on the upward push it got with the Bank of Canada’s decision to raise a key lending rate for the second time this year.

The loonie was trading at 82.35 cents US this morning, up from Wednesday’s average price of 81.54 cents US — the highest in more than two years.

Meanwhile, the Toronto Stock Exchange’s S&P/TSX composite index edged up a marginal 1.13 points at 15,060.96. It has fallen more than 150 points over the past week.

In New York, the Dow Jones industrial average advanced 15.58 points to 21,823.22. The S&P 500 index was up 1.42 points to 2,466.96 and the Nasdaq composite index gained 16.69 points to 6,410.01.

The October crude contract was down 17 cents to US$48.99 per barrel and the October natural gas contract declined one cent to US$2.99 per mmBTU.

The December gold contract advanced $12.10 at US$1,351.10 an ounce and the December copper contract was unchanged at US$3.15 a pound.