Date registered: Mar 2006
Vehicle: 1999 ML320
Mentioned: 1 Post(s)
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Loonie breaks $1.02 U.S. as jobless rate tumbles
October 5, 2007 at 6:18 PM EDT
The Canadian dollar defied gravity Friday, rising above $1.02 (U.S.) at one point, as the high-flying currency got additional lift from a report showing Canada's unemployment rate fell last month to the lowest level in 33 years.
It was a day of astonishing news for the Canadian economy, which had been expected to start feeling the pain from the summer subprime mortgage crisis in the United States that many thought would send shock waves rippling into in this country.