Do you remember, say, 8 years ago. The Canadian dollar was a world currency, even the United States had trouble killing. Today, it dropped to yet another record low. The bank of Canada at one point in 1998 bought it back up. Today, it is left to die.
Unfortunately, we are not alone with our suffering currency. Markets around the world are also feeling the pain, while the United States enjoy all time highs, the world suffers all time lows.
The side effects for American economy however. Many Canadians visiting Florida at this time of the year will be cancelling thier plans. American exports to many countries including Canada could be halted and Americans themselves will be spending in Canada, thanks to the poor dollar.
Will Canada pull out of it's slump many ask. Analysts predict otherwise, when the world has it's eyes on the amazing American currency, and while Europe fights back against Americanization with it's newly introduced eurodollar.
The world economy is becoming more and more American. There's really not much our looney can do to stop that. Our loony could soon earn the nickname [has it already?] the northern peso. But even the Mexican peso is gaining on the looney as more companies are relocating to the cheaper labour far south.
At the current point, nothing can stop the rising American dollar, not even September 11th. But for the time being, put your money on the US greenback, because we have yet to see how much further our looney can slip right out of sight.