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Posted on 13/09/07

Oil at $80 pumps new life into loonie

With files from wire services

If there's really a looming slump in global demand, oil traders sure missed that memo. Crude oil prices defied the dire warnings about a U.S.-led slowdown and soared to a record yesterday, sending the Canadian dollar to nearly a three-decade high. The exuberance also spilled into other commodities, with wheat prices also hitting a record.

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