The Canadian dollar reach a high of 96.58 cents (US) earlier today, marking a thirty-year high. To be sure, the loonie closed the day at 96.52 (US) but that was still more than half a cent higher than yesterday's close.
The strong dollar is attributed to a number of things: a robust Canadian economy buoyed by record commodity prices and a strong housing market, a widening interest rate gap between Canada and the US, and a sluggish US economy.
It looks like the people who predicted the dollar at par within 18 months may be onto something.
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