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In the past 15 months, the Canadian dollar has lost about 10 per cent of its value against the greenback.
In the past 15 months, the Canadian dollar has lost about 10 per cent of its value against the greenback.
(JONATHAN HAYWARD/THE CANADIAN PRESS)

Why the loonie has defied gravity this year

The Canadian dollar hasn’t done much of anything this year despite dire year-ahead forecasts and volatile oil prices. A closer look at the domestic trade picture explains why.

The short explanation for the flattish loonie so far this year is that the positive effects of higher energy prices are being almost entirely offset by climbing imports.