Loonie retreat positive for companies

Source: Bloomberg
© Scanpix/Reuters
A declining Canada's Dollar is a positive event for majority of nation's companies, increasing the profits made in U.S. Dollar compared to costs in the local currency. The Loonie will weaken to C$1.14 against its U.S. counterpart, the lowest level in more than four years, by the end of this year, according to Bloomberg. Canada's Dollar appreciated 0.3% to C$1.1024 per U.S. Dollar in Toronto.
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