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Gap between loonie and greenback narrows: Report

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posted on Jul, 29 2009 @ 05:59 PM
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Gap between loonie and greenback narrows: Report


www.canada.com

TORONTO — After decades of a deep pricing chasm between U.S. and Canada on some retail goods, most notably books and cars, the gap appears to have narrowed substantially, according to a new economic report.

"(Prices) now compare surprisingly well, even with the recent dramatic sprint in the loonie," said the report Wednesday from Douglas Porter, chief economist at BMO Capital Markets.

Porter and a research team looked at a basket of goods and found them to be just 6.8 per cent more expensive in Canada than in the U.S. before taxes, adjusted to current exchange rates.

That gap is
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posted on Jul, 29 2009 @ 05:59 PM
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So it appears that the Canadian dollar has caught up to the American greenback. It may sound good for us canucks, but I think this could in fact be the demise of our beloved dollar just like the US dollar in a less dramatic fashion. Personally I think by the end of this year the US, Mexico and Canada will usher in the Amero and that will begin the NAU as we know it.

www.canada.com
(visit the link for the full news article)



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