Loonie cruises near 90 cents US

The Canadian dollar continued its upward trajectory on Monday as market watchers suggested it is headed back to parity with the U.S dollar.

The loonie finished at 89.83 cents US, up 0.38 of a cent from Friday's close.

With the loonie approaching 90 cents US, some economists are now suggesting that a return to parity with the U.S. dollar is only a matter of time.

National Bank Financial chief economist and strategist Clement Gignac said in a research report that the loonie could achieve parity by the autumn of 2007. The last time the Canadian and U.S. dollars were trading at the same level was 1976. (cbc)

Holy Shit.