Loonie rises above 80 cents U.S. for first time since last summer

April 29, 2016 1:57 pm

The Canadian dollar traded at the strongest level since last June early Friday, rising above 80 cents U.S.


In morning trading the loonie edged up 0.31 of a U.S. cent from Thursday’s close of 79.69 cents U.S. The last time the loonie closed above that level was on June 30, 2015, when it settled at 80.06 cents U.S.


With a 10.7 per cent gain this year, the Canadian currency has been the best performer among G-10 peers after the yen. It recovered from a slide to a 13-year low against the U.S. dollar in January


The loonie’s rise has been aided by weakness in the U.S. dollar.


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Source: TheStar.com