The Canadian Dollar was supposed to be one of the “hot” currencies of
2010. Given that it’s now exactly where it started the year, I think
it’s safe to say that this isn’t the case. On the one hand, it would
seem that the markets are still confused about how much the CAD should
be worth, as Adam recently pointed out.
An alternative interpretation is that investors believe the Loonie
should trade near parity with the US Dollar; it has hovered just above
that mark since breaching it in April.
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