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The Loonie Keeps It Up

By KJ Mullins     Feb 11, 2008 in Business
The Loonie is on another upward spiral against the United States dollar. Opening Monday at 100.05 it jumped slightly from Friday's closing rate. As the U.S. dollar loses value the Canadian dollar gains.
As the Loonie increases in value Wall Street has been dealing with a slide as an economic slowdown appears to be on the horizon for Americans.
The new doesn't seem to be getting any better as Venezuelan President Hugo Chavez has threatened to cut oil sales to the United States. That has to do with the court battle between Venezuela and the Exxon Mobil Corp.
The U.S. is not the only country seeing slumping figures in their stock market. Japan, Britain, Hong Kong, Germany and France have all seen some slumps in the past week.
The Toronto stock exchange racked up a modest advance as the oil and bullion prices rose.
More about Stock market, Loonie, Oil