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A Canadian dollar or loonie.
A Canadian dollar or loonie.
(Jonathan Hayward/THE CANADIAN PRESS)

Two reasons the loonie’s ascent may be over

Canadian investors who are sitting on some idle cash have discovered that that cash isn’t so idle after all: Against the U.S. dollar, the loonie has been flirting with the 94-cent level, up from about 89 cents in March.

But some observers expect that the Canadian dollar’s decline against the greenback is about to resume, providing a good reason to look south for potential investment ideas.