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Wednesday, September 19, 2007

Canada Dollar Dominance Shows Break With U.S. Dollar - Haris Anwar

Canada's currency, nicknamed the loonie after the image of the national bird on the one-dollar coin, has risen about 4 percent against its U.S. counterpart since June 12 amid growing speculation that losses related to U.S. subprime mortgages would prompt the Federal Reserve to cut interest rates.

Of the 16 most traded currencies, none has done better than the loonie's 13.5 percent gain against the dollar this year. It reached a 30-year high of 97.66 U.S. cents today. The currency has rebounded from a low of 61.80 cents in January 2002.

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