This Sucks

So much for the cheap Canadian vacation (via Hoffmania):

The Canadian dollar cracked 90 U.S. cents on Tuesday, setting a new 28-year high and helping Canadians to realize cheaper U.S. imports of everything from vegetables and clothing to computers.

The loonie rose to 90.38 cents, up more than half a cent from Monday's close and its highest level since 1978, when Pierre Trudeau's Liberal government ran the country and disco was still king. Canada's dollar coin has a bird, a loon, on one side, from which the nickname is derived.

The currency had an intraday peak of 90.42 cents, as the American greenback weakened against most foreign currencies and investors remained optimistic about the Canadian economy and robust oil and gold prices.

Many analysts are predicting the loonie could soon hit 95 cents or even be on par with the U.S. dollar, something that hasn't happened since the 1970s.