The Canadian dollar (aka the Loonie) is on a tear, nearing parity with the U.S. dollar. At the beginning of 2009 it was worth 80 cents, but this week it's been trading at around 96 cents. Theoretically, with the currencies so closely aligned that should mean Canadians pay roughly the same as Americans for goods and services right? Not so fast. A pair of jeans at Sears U.S. is $29.99, but at Sears in Canada the same pair is C$70 (about $67.50). The WSJ explores what's going on in Canada at the retail front.
Sears Canada Cuts Payments to Suppliers Due to Strong Loonie - WSJ.com
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