Posted AT 3:00 AM EST on 21/09/07
Parity. So what?
OTTAWA — The Canadian dollar reached an equal footing with its American counterpart for the first time in a generation Thursday as currency markets bet that Canada would avoid being dragged down by a stumbling U.S. economy.
The loonie hit parity for the first time in 30 years just minutes before 11 a.m. EDT and traded as high as $1.0008 (U.S.) before falling back to 99.84 cents at 5:38 p.m. in New York.
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