The rising value of the Canadian dollar briefly matched the falling United States dollar for the first time since 1976, before closing at 0.9987 US dollars on Thursday. The Canadian dollar has risen 62\% since bottoming out at 0.6179 US dollars in 2002, following a steady decline since the 1976 electoral victory of separatist René Lévesque in Quebec which triggered economic fears about Canadian stability. The US dollar took a sharp hit this week due to a higher-than-expected half-point cut in interest rates by the US Federal Reserve , intended to mitigate the effects of a deepening housing slump and turbulence in the credit market.
The rising value of the Canadian briefly matched the falling United States for the first time since 1976, before closing at 0.9987 US dollars on Thursday. The Canadian dollar has risen 62\% since bottoming out at 0.6179 US dollars in 2002, following a steady decline since the 1976 electoral victory of in which triggered economic fears about Canadian stability. The US dollar took a sharp hit this week due to a higher-than-expected half-point cut in interest rates by the , intended to mitigate the effects of a deepening housing slump and turbulence in the credit market.
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separatist René Lévesque in Quebec
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