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Loonies on the Rise in Canada

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July 3, 2012 by Jerry

The Loonie, Canada’s water-bird bearing currency has risen .5 percent according to this recent article.This source reports that it’s up to C$1.0246 perU.S. dollar after dropping to C$1.0300 earlier in the month. In response to this, some banks are looking to raise interest rates. Ten year bonds, however have dipped. They reached their lowest point since 1950 on the first of this month. Canada’s largest export, oil, has been doing well, gaining 2.4 percent a barrel. Earlier moves to avoid a housing bubble have temporarily shut out first time buyers, but are on their way to promoting slower global growth in the long run, as intended. These precautions were also set in place to deflate some of the debt that would have led to a national economy collapse.


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