The Hemisphere: Dollar Drop

The Canadian dollar, which rose in value above the U.S. dollar eight months ago and reached a high of $1.04 (U.S.) in August, dropped back last week. It was quoted as low as $1.01 in Toronto, and at some U.S. border points the two dollars were traded even, although a customer still had to put up $1.02 to buy a Canadian dollar at a U.S. bank. Reason for the drop: 1) recent withdrawal of U.S. investments for profit-taking, 2) an increased demand for U.S. goods, which boosted Canada's imports above, exports in September, and 3) the U.S. election. "All the Republican...

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