Loonie Edges Above U.S. dollar
The Canadian dollar (Loonie)pushed above parity with the greenback on Tuesday for the first time since July 2008, though on the end of day it was bit below the one for one level from the dollar.
The currency finished at C$1.0012 to the U.S. dollar, or 99.88 U.S. cents, up from Monday’s finish at C$1.0028 to the U.S. dollar, or 99.72 U.S. cents.
Due to the fact of the canada’s healthy economy and the developed fundamentals relative to the United States currency has risen more than 5 percent against the U.S. dollar so far this year after gaining almost 16 percent in 2009.