# Loonie hits 77¢: ‘The bigger surprise is why it took so bloody long’ - The Globe and Mail

> The Canadian dollar reached 77 US cents on June 29, 2017, with economist David Rosenberg saying the rally was overdue. The loonie has risen on expectations of a Bank of Canada rate hike, which many now see as possible within weeks.

- Date: 2017-06-29 · published 2017-06-29T12:00:00.000Z
- Category: macro · region Canada · magnitude low
- Page: https://feedsoft.ai/events/70737-loonie-hits-77-the-bigger-surprise-is-why-it-took-so-bloody-long-the-globe-and
- Commodities: [Canadian Dollar (CAD per USD)](https://feedsoft.ai/c/USDCAD.md)

## Why it matters

A stronger Canadian dollar makes Canadian grain and oilseed exports more expensive in US dollar terms, which can weigh on Canadian-origin feed ingredient prices and support import competition. Rate-hike expectations are a macro factor rather than a direct feed supply change.

## Read by commodity

- USDCAD: bearish ▼

## Sources

- theglobeandmail.com: https://www.theglobeandmail.com/report-on-business/top-business-stories/loonie-hits-77-the-bigger-surprise-is-why-it-took-so-bloodylong/article35498456/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.