Akeman Capital Reports Dollar Sets New Record as Unemployment Rate Drops
January 08, 2008
Sources say that Akeman Capital researcher recently observed that, with the economy pumping out 63,000 additional jobs in October of 2007 and the unemployment rate plunging to 5.8 per cent, the Canadian dollar recently gained a full two cents, peaking over $1 US.

The Canadian dollar, already soaring on high commodity prices, rose to its highest close on record recently following reports that US employment was healthy in October of 2007, having gained 166,000 jobs.

Sources say that a spokesman recently stated that the loonie has risen 22 cents last year alone against the U.S. greenback, making it the world's best-performing major currency. The spokesman reportedly weet on to say that the Canadian dollar had also appreciated against the euro, Japanese yen, Brazilian real and other currencies, making goods imported from Europe, Japan and Brazil cheaper for Canadian consumers.

It has been said that the rising level has benefited consumers booking U.S. vacations to the sunny south and cross-border shoppers flocking to U.S. border cities looking for bargains on everything from auto parts to CDs, shoes and clothes. It has also forced some Canadian retailers to lower their prices in response and helped more and more companies afford U.S.-built technology and machinery to boost productivity.
About the Press Release
According to reports from Akeman Capital, the Canadian dollar entered uncharted territory recently, after a strong employment report exceeded many expectations.


 
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