VANCOUVER (NEWS1130) – Just in time for the March break getaway down south, the Canadian dollar has once again taken flight today.
The loonie has reached its highest level since November 2007; at one point, was trading at 103.35 cents US. The dollar has strongly benefited from oil prices, which have surged since fighting between supporters and opponents of Libyan leader Moammar Gadhafi intensified in late February.
The loonie is up almost two cents since February 18 and oil prices have spiked about 17 per cent since then.
Crude prices were stable as the April contract on the New York Mercantile Exchange dipped five cents to $104.97 US a barrel in electronic trading.