Posted AT 1:00 PM EST on 29/10/07
Lofty loonie
OTTAWA — The Canadian dollar has reached its highest level since it began to float freely in 1970.
The loonie was trading at $1.0459 (U.S.) just before 11:30 this morning, after breaking through the previous post-Bretton Woods high of $1.0443, said Mark Chandler, fixed income strategist for Royal Bank.
The main reason for today's surge is a weakening U.S. dollar, he added.
The Canadian dollar was pegged to the U.S.
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