TORONTO, Ont. – The Canadian dollar has once again hit parity with its American counterpart.
The loonie has been getting some lift in recent days as the U.S. dollar has continued to weaken following an announcement that the U.S. Federal Reserve will take more steps to bolster the American economy.
The loonie was up a little more than a quarter of a cent at 100.02 cents (U.S.) in morning trading.
The Canadian dollar previously hit parity with the U.S. dollar Oct. 14 but hasn’t closed above that level since April 23.
Weakness in the greenback picked up this week after the U.S. Federal Reserve announced it will buy $600 billion (U.S.) in government bonds over the coming eight months in a fresh attempt to energize the U.S. economy.
The Canadian dollar has also been supported by solid advances in commodity prices this week.