Looney is at 30 yr high


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desi in ottawa   
Member since: May 04
Posts: 1627
Location:

Post ID: #PID Posted on: 13-09-07 13:32:37

http://www.reportonbusiness.com/servlet/story/RTGAM.20070913.wforex0913/BNStory/robNews/home

LONDON — The Canadian dollar hit a 30-year high Thursday, spurred by high oil prices and a prevailing negative sentiment against the U.S. currency.
The loonie strengthened as much as 96.93, trading at its highest levels since 1977.



heaven   
Member since: Nov 06
Posts: 70
Location: Toronto

Post ID: #PID Posted on: 15-09-07 21:53:55


http://www.iht.com/articles/2007/09/13/news/econ.php

FRANKFURT: Finance ministers and central bankers have long fretted that at some point, the rest of the world would lose its willingness to finance the United States' proclivity to consume far more than it produces - and that a potentially disastrous free-fall in the dollar's value would result.

But for longer than most economists would have been willing to predict a decade ago, the world has been a willing partner in American excess - until a new and home-grown financial crisis this summer rattled confidence in the country, the world's largest economy.





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