Canadian dollar at same level as U.S. dollar for first time since 1976

The Canadian NHL teams rejoice.

 

So when does the careening dollar turn around? When we start to withdraw from Iraq? After a major dollar collapse?

 

The UK Pound is now over $2. This sucks.

 

In a Wall Street Journal story about the same topic last week they had the situation where American strippers were heading to Canada now often to perform at their boss' Canadian venue. Now I don't know the whole inner workings of 'stripper economics' but to me it still doesn't seem enough of a US/Canadian dollar value difference to offset the cost the several hours trip plus room and food expenses for the ladies.

 

compared to the other major 7 currencies, we're down, yes. but if you were to compare it to currencies worldwide, we're where we were in 1996.

 

China's central bank announces they are going to diversify their foreign reserves of $1.43 trillion. Which is code for they are going to pull out of dollars and buy currencies that are not losing as much value. The U.S. dollar promptly fell against all 16 major-trading currencies.

The American dollar is now at its lowest level against the Canadian dollar since we pulled out of the gold standard in 1973 (where exchange rates were fixed). $1.1040 = $1CDN.

http://www.bloomberg.com/apps/news?pid=20601087&sid=aMPLuto8wxK4&