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Loonie surges to another 10-year high

By Malcolm Morrison

A renewed wave of U.S. dollar selling sent the Canadian dollar up almost half a U.S. cent Friday to a new 10-year high.

The selloff also took the U.S. greenback to a record low against the euro and a five-year low against the British pound. The loonie closed at 76.98 cents US, up 0.49 of a cent and its highest point since November 1993. But that was still well off an early-morning high of 77.32 cents US.

The currency pulled back after new data pointed to a shaky economy – and speculation that the Bank of Canada may cut interest rates next Tuesday.

Read the original article at: The National Post

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