Canadian Dollar About to Go to Par?

When I first started schlepping my Canadian pesos to the US, they were worth 60-odd freedom cents each. As of today a shiny loonie will buy you 98.5% of a greenback, and climbing.

You can fit my macroeconomic knowledge on the head of a pin, but I’m still weirded out that something as mammoth as the US economy, with all the inertia that presumably goes with it’s size, is under such perturbation that it’s currency value would shift that far that fast. What the hell is going on down here? And why am I no longer working in Canada for my summers and bringing the money down here in the winter?

Graph boosted from the Bank of Canada website, which is hilariously located at

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