The Canadian Dollar is now worth 93 cents American. I believe that the last time it was worth this much was during my childhood. I can remember when the dollar was at about 60 cents and then the surge of euphoria when it rose to 75 cents. To learn today that the dollar was so high was a surprise and a sign of how out of touch I am from Canadian news.
Why is the dollar so high against the U.S. dollar? One explanation I have heard is that the Chinese hold so many American dollars and so the dollar is not longer considered to be a reliable currency. But this was from a decidedly un-American viewpoint. America still has world's strongest economy. And China's exchange rate is controlled so strictly that something has give with it eventually.
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