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The Bouncing Loonie

By KJ Mullins     Dec 1, 2007 in Business
If you were planning on cashing in on the American dollar when it bounces back hopefully you've already grabbed your fist full of greenbacks. The Loonie closed neck and neck with the United States dollar on Friday.
For a time the mighty Loonie was worth a fraction less than Uncle Sam's tender but bounced back to be valued evenly with the south of the border currency.
It's not all bad news though. The Loonie is worth more than it was a year ago by 17 cents. It peaked on November 7 when it was just over $1.10 US.
Some of Friday's drop can be blamed on lower oil prices. The cost per barrel on Friday was a mere $90 US.
More about Loonie, Dollar, Canada