Business Blog

Why the Canadian dollar has strengthened in recent days

Here's an interesting article (link) from The Globe and Mail about why the Canadian dollar has strengthened in the past week, getting close to 92 cents compared to the U.S. dollar.

According to the article the biggest factor is the weakening U.S. currency, along with increased strength in currencies that have a strong commodity-based economy.

This is expected to be a momentary blip if current economic factors remain in place. Several forecasters expect the loonie to weaken to around 85-87 cents to the U.S. dollar in the coming months.