Loonie Soars To 82 Cents

A selloff in the American dollar sparked in part by higher oil prices sent the loonie up sharply Monday to its highest close since the summer of 1992.

The Canadian currency traded up more than four tenths of a cent to 81.93 cents US after hitting an intraday high of 82.1 cents US. The latest round of selling pressure against the greenback came as crude prices rose to a new record high, raising worries about how the U.S. economy could be impacted by oil stuck well over $50 US a barrel. Full story