Greenback and Loonie Joined at the Hip since last September
Abstract:
From January 2003 to September 2008, the Canadian dollar increased in value by slightly more than 50% versus the U.S. dollar. The inverse was that the U.S. dollar dropped in value by about one-third versus the Canadian dollar. Since September of last year, however, the two currencies have been joined at the hip. The have moved in tandem, and mainly downward, versus other major currencies around the world. As a result, a number of world currency adjustments have been quite interesting.
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From January 2003 to September 2008, the Canadian dollar increased in value by slightly more than 50% versus the U.S. dollar. The inverse was that the U.S. dollar dropped in value by about one-third versus the Canadian dollar. Since September of last year, however, the two currencies have been joined at the hip. The have moved in tandem, and mainly downward, versus other major currencies around the world. As a result, a number of world currency adjustments have been quite interesting.