Wednesday, July 25, 2007

SOC Investigates the Canadian Dollar Approaching Parity. At A Bar!


We came face to face with the demise of the dollar here in Sherbrooke, Quebec. Last year we would spend $69-70 Canadian in the bar. When the bill came, we’d say to ourselves, “That’s not so bad… it’s like $40.” Yesterday, $69-70 Canadian spent at the bar… was closer to $69-70.”
As if on cue, the Canadian loonie touched a 30-year high versus the dollar last night. Parity is around the corner.
“We feel fundamentally that that dollar will decline over the next five years,” EverBank president Frank Trotter told our audience yesterday, “particularly against Asian currencies.” Frank sees specific opportunity in the Canadian loonie, the Norwegian krone, Swiss franc, the Thai bhat, the euro and Japanese yen.

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