CANADA: Bonus Dollar

The Canadian dollar is riding high again. Up from its spring and early-summer range of 101 to 102 U.S. cents, it was trading last week for about 103 U.S. cents. Main cause of the upturn: continuing flow of U.S. investments, including huge purchases of Canadian securities by newly formed investment trusts, just at the time when the annual rush of U.S. summer tourists was reaching its peak.

Although Canadians could take pride in the strength of their currency, their satisfaction was not shared by exporters of such products as newsprint and wheat, whose prices are usually set in terms of...

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