Canadian dollar tops 82 cents for 1st time since 2017

Submitted by admin on Sat, 05/08/2021 - 01:33

The Canadian dollar hit its highest level in almost four years on Thursday, buoyed by high commodity prices.

The loonie was changing hands at 82.26 cents US when stock markets closed on Thursday, its highest close since September 2017.

Two broad trends are combining to push the loonie higher. 

First, the improving outlook for the global economy coming out of COVID-19 has pushed up prices for commodities that Canada has a lot of...

This was excerpted from the 6 May 2021 edition of CBC News.