Over the past eight years, U.S. tourists in Canada have had to grow accustomed to the irritating fact that their dollar has been worth as little as 95¢ in Canadian currency. Last week the value of the U.S. dollar skipped up to its highest point in two years: 98.6¢ in Canadian funds. The narrowing gap between the two dollars reflected a drop in the volume of U.S. investment money entering Canada, which creates a demand for Canadian currency and raises its price in U.S. money. Some bankers were predicting that the two dollars would reach parity this summer.
Ironically, parity...
To continue reading:
or
Log-In