Posted AT 11:42 AM EDT on 19/10/07
Canadian dollar tops $1.03 (U.S.)
The loonie topped $1.03 (U.S.) on Friday, driven by surging crude prices and an inflation report that further dimmed the odds of an interest rate cut.
The surging Canadian currency climbed as high as $1.0358, its highest level since June, 1974, in the wake of a government report that showed inflation reached a 16-month high. At last check, the loonie was trading at $1.0355, up 85 basis points from Thursday's close of $1.027.
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