| Monday May 30th 2016

Canadian dollar hits parity vs. U.S. dollar

Canadian bill

The Canadian dollar rose to one-for-one footing with the U.S. currency on Tuesday, hitting its strongest level since July 2008, boosted by rising commodity prices and expectations for higher domestic interest rates.At 7:38 a.m. (1138 GMT), the Canadian dollar was at C$1.0008, or 99.92 U.S. cents. Earlier, the currency rose to C$0.9999 to the U.S. dollar or $1.0001. CAD=D3

“The Canadian dollar remains better placed on almost every front, including the monetary policy outlook, a healthy banking system and rising commodities,” said Audrey Childe-Freeman, strategist at Brown Brothers Harriman.

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