Canadian $$$ Dollar
So I am kinda torn between the fact that the Canadian Dollar is finally rising compared to the US $ and British Pound. Why am I torn, well I like to travel and would like to travel South of the Border but while our dollar was worth so little it was too expensive to travel. Now that the dollar is rising and continues to rise travel now is more affordable. Also Canadian hockey teams have more of a fighting chance the higher the dollar goes.
What is the counterpoint you ask?
Businesses in Canada that export to the US have been hit really hard in the last 2 months as the dollar rises. Most companies that are having problems were not prepared for the dollar to rise so dramtically after so many years at 65 cents. On the one hand I am concerned about the businesses and potential job losses. On the otherhand businesses need to be prepared to handle this and they should be run effectively and not be dependant on a really weak dollar to sustain profitablity.
I think that the special interest groups will lobby the governmant and the government will put pressure on the Bank of Canda to make purchases of Canadian Dollars and also play with interest rates to bring the dollar down to where it has been the last few years.
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