[lbo-talk] Canadian dollar trades above 80 cents US, highest point in more than a decade

Tommy Kelly tkelly15450 at charter.net
Wed Oct 20 11:29:59 PDT 2004


http://money.canoe.ca/News/Economy/2004/10/20/677837-cp.html

Wed, October 20, 2004 *Canadian dollar trades above 80 cents US, highest point in more than a decade*

TORONTO (CP) - The Canadian dollar traded above 80 cents Wednesday morning, a day after the Bank of Canada raised its key policy interest rate by a quarter point to 2.50 per cent.

The move - the bank's second rate hike in as many months - was widely expected by financial markets and quickly matched by major commercial banks.

The loonie opened up 0.59 of a cent at 80.14 cents US, its highest point in more than a decade.

Earlier this month, the Canadian dollar traded above 80 cents US for the first time in more than a decade as a jump in job-creation in September pushed unemployment down to the lowest rate in three years.

The loonie last closed above 80 cents US in March 1993.



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