CBC NEWS: The Canadian dollar hit and surpassed parity with the U.S. dollar on Tuesday, the first time in had accomplished the feat in more than a month.
Early in the morning, the loonie surged to hit the $1 US level. That was the first time the Canadian currency had hit the benchmark since Nov. 10. By 8:30 a.m., the loonie was changing hands at 100.13 cents US, up 0.94 of a cent on the day.
On Monday, the Chinese government hiked interest rates in an attempt to get inflation under control. That should have sent investors flocking to safety havens such as the U.S. dollar, but so far that hasn’t happened. The U.S. dollar was lower against most of its major benchmarks on Tuesday…
