Posted AT 4:48 PM EST on 27/09/07
Surplus buoys Canadian dollar
The Canadian dollar remained stronger Thursday after the federal government announced a larger-than-expected surplus and as a weak U.S. home sales report sent the greenback lower against other global currencies.
The loonie, which rose above parity earlier in the session, closed at 99.86 cents (U.S.), up from Wednesday's finish of 99.58 cents.
The Canadian government estimated the surplus swelled to about $14-billion in the last fiscal year, far greater than the $9.
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