S�bastien Galy has a thought for those who think the Canadian dollar is headed for the 69-cent range. The senior foreign exchange strategist at Soci�t� G�n�rale thinks the loonie is close to hitting bottom, with a rebound in sight after that.
All of the city's major festivals - Just For Laughs, the Montreal International Jazz Festival and Osheaga - have been hit hard by the slumping Canadian dollar relative to the American buck. Our loonie has dipped by about 20 per cent in the past year ...
The Canadian dollar moved higher Monday amid an uptick in oil prices and a weakening U.S. dollar. At the close of trading, the loonie was at 79.94 US cents, after rising above 80 cents for the first time in weeks.
The Canadian dollar strengthened against its U.S. counterpart on Friday, as a sell-off in the U.S. dollar outweighed weaker-than-forecast domestic retail sales for January, which had initially dragged on the currency.