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Canadian dollar rises above 80 cent U.S. mark

Canadian dollar coins, also known as “loonies,” are posed with a U.S dollar bill in Montreal. (Ryan Remiorz / Associated Press)
Associated Press
Canadian dollar coins, also known as “loonies,” are posed with a U.S dollar bill in Montreal. (Ryan Remiorz / Associated Press)

TORONTO – The Canadian dollar has hit the 80 cent U.S. mark for the first time since last summer, trading at its strongest level since last June.

The Canadian “loonie” was up 0.31 of a cent U.S. on Friday from a close of 79.69 cents U.S. a day earlier.

The last time Canadian currency closed above that level was on June 30, 2015, when it settled at 80.06 US cents.

The loonie’s rise marks a remarkable turnaround for the currency in recent months, aided by weakness in the U.S. dollar.

Canadian snowbirds temporarily living in the U.S. had been worried after the dollar dipped below 70 cents U.S. in January, costing sun-seekers more to reside there, while the low loonie forced others to forgo travel plans to the U.S.