$1 Cdn = $1 US
Last Updated: Thursday, September 20, 2007 | 11:52 AM ET
CBC News
$1 Cdn = $1 US
The Canadian dollar reached parity with the U.S. greenback on Thursday for the first time since November 1976.
The loonie briefly reached $1.0003 US on foreign exchange markets shortly before 11 a.m. ET, the Bank of Canada said. The loonie's stint at parity was brief, however, as it later slipped back to just under $1 US.
Some financial data providers reported that the loonie had reached parity shortly after 9 a.m. ET. But the Bank of Canada said the data its trading room was looking at did not show parity at that time.
"Currency trading is an over-the-counter market," a Bank of Canada spokesperson told CBCNews.ca. "It's not like the TSX." So there can be small discrepancies depending on the trades the data source monitors.
At any rate, all data sources are now showing that the Canadian dollar did reach parity.
U.S. dollar falters
The dollar's latest rise comes as the U.S. dollar falters against major currencies and commodity prices continue to gain strength.
The U.S. dollar hit a new record low against the euro earlier Thursday, two days after the Federal Reserve made a surprise cut of one-half of a percentage point to a key U.S. interest rate. Economists had been expecting a quarter-point rate cut.
今天，周四，美元对欧元也创新低。两天前美国央行宣布降息。
Also giving energy to the loonie's flight has been the rising price of oil.
In global commodity trading, the price of a barrel of oil was at $82.10 US, up 17 cents from Wednesday.
With the loonie quickly approaching parity with the U.S. buck, questions are arising about where the Canadian dollar goes once it passes $1 US.
"We've come a long way. It wasn't that long ago that the Canadian dollar was trading around 60 cents and people were thinking the end was near," said Steve Butler, director of foreign exchange at Scotia Capital.
"And now, seeing it close to parity with this much strength and this much momentum, I don't think parity is going to be the number that stops it," he told CBC News.
Butler said he wouldn't be surprised if the loonie passes parity shortly and then possibly retreats below par before resuming its rise.
"I still think the fundamentals are so strong right now that we will see Canada continue to climb," he added.
加拿大专家认为，如果加元继续上涨并不令人吃惊
Last Updated: Thursday, September 20, 2007 | 11:52 AM ET
CBC News
$1 Cdn = $1 US
The Canadian dollar reached parity with the U.S. greenback on Thursday for the first time since November 1976.
The loonie briefly reached $1.0003 US on foreign exchange markets shortly before 11 a.m. ET, the Bank of Canada said. The loonie's stint at parity was brief, however, as it later slipped back to just under $1 US.
Some financial data providers reported that the loonie had reached parity shortly after 9 a.m. ET. But the Bank of Canada said the data its trading room was looking at did not show parity at that time.
"Currency trading is an over-the-counter market," a Bank of Canada spokesperson told CBCNews.ca. "It's not like the TSX." So there can be small discrepancies depending on the trades the data source monitors.
At any rate, all data sources are now showing that the Canadian dollar did reach parity.
U.S. dollar falters
The dollar's latest rise comes as the U.S. dollar falters against major currencies and commodity prices continue to gain strength.
The U.S. dollar hit a new record low against the euro earlier Thursday, two days after the Federal Reserve made a surprise cut of one-half of a percentage point to a key U.S. interest rate. Economists had been expecting a quarter-point rate cut.
今天，周四，美元对欧元也创新低。两天前美国央行宣布降息。
Also giving energy to the loonie's flight has been the rising price of oil.
In global commodity trading, the price of a barrel of oil was at $82.10 US, up 17 cents from Wednesday.
With the loonie quickly approaching parity with the U.S. buck, questions are arising about where the Canadian dollar goes once it passes $1 US.
"We've come a long way. It wasn't that long ago that the Canadian dollar was trading around 60 cents and people were thinking the end was near," said Steve Butler, director of foreign exchange at Scotia Capital.
"And now, seeing it close to parity with this much strength and this much momentum, I don't think parity is going to be the number that stops it," he told CBC News.
Butler said he wouldn't be surprised if the loonie passes parity shortly and then possibly retreats below par before resuming its rise.
"I still think the fundamentals are so strong right now that we will see Canada continue to climb," he added.
加拿大专家认为，如果加元继续上涨并不令人吃惊
