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Loonie leaps to dramatic new level

The Canadian dollar was on a roll Friday, rising dramatically against the U.S. dollar and trading at its highest level in more than 13 years. The loonie jumped 0.89 of a cent Friday morning to 86.27 cents U.S., the strongest Canadian dollar since January 1992.

Analysts cite a number of factors in the dollar’s rise. Some weakening in the U.S. dollar was one obvious factor, as was increased buying by portfolio managers at the end of the month and the end of a financial quarter.

Read the original article at: CBC News

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