Loonie reaches parity with U.S. dollar

Trading overseas this morning has put the Canadian dollar on level ground with the Greenback.

The loonie last reached parity in April and has approached it several times since then only to slip back down. But analysts say that the Canadian dollar will likely remain on par with if not exceed the value of the U.S. dollar for the foreseeable future as troubling economic news continues to come from our neighbours to the south. The U.S. dollar has decreased on the back of speculation that Barack Obama may inject more money into the faltering economy. At the same time, our dollar has increased in value thanks to rising mineral and resource costs. A robust loonie is good for international travelers, but bad for Canadian exporters as their products become less affordable abroad.