If a recent trip to the U.S. hurt your wallet because of the value of the loonie, we’re here to tell you that things are looking up. Earlier this year, the loonie wasn’t doing too hot against the U.S. dollar, in part because Canada was cutting interest rates while the U.S. held steady. This made U.S. investments more attractive, as lower rates in Canada meant lower returns for some investments, which weakened demand for the loonie. But here’s the thing: the loonie wasn’t doing that bad, relatively speaking. It’s just that the U.S. dollar was really strong — between May 2021 and June 2024 the greenback strengthened by almost 16% against a basket of major currencies. Now, as the U.S. starts its own rate-cutting cycle, the greenback is starting to slip, and the loonie is catching up, rallying 3.3% from a near two-year low exchange rate in August. Hopefully you have enough PTO left to take a quick trip down south this fall to enjoy (slightly) cheaper goods.