this post was submitted on 25 May 2025
99 points (99.0% liked)

Canada

9726 readers
1369 users here now

What's going on Canada?

Related Communities

🍁 Meta

🗺️ Provinces / Territories

🏙️ Cities / Local Communities

Sorted alphabetically by city name.

🏒 SportsHockey

Football (NFL): incomplete

Football (CFL): incomplete

Baseball

Basketball

Soccer

💻 Schools / Universities

Sorted by province, then by total full-time enrolment.

💵 Finance, Shopping, Sales

🗣️ Politics

🍁 Social / Culture

Rules

  1. Keep the original title when submitting an article. You can put your own commentary in the body of the post or in the comment section.

Reminder that the rules for lemmy.ca also apply here. See the sidebar on the homepage: lemmy.ca

founded 4 years ago
MODERATORS
otter
mp3
99
Loonie ‘actually strengthening’ amid unusual market moves: FX strategist (www.ctvnews.ca)
submitted 3 days ago by Daryl to c/canada
36 comments fedilink hide all child comments
 

Take that, America.

Never underestimate the strength of Canadian resolve in the face of enemy action.

you are viewing a single comment's thread
view the rest of the comments
[–] GreyEyedGhost 2 points 2 days ago (1 children)

It's going to be an interesting time. What's the point in holding currency in an isolationist state? What can you trade it for? And while China is in a position to take over as the global currency, that would require relaxing the reins on their currency, which I don't think they're ready to do. A good part of what makes an international currency useful is trust in the currency. America doesn't have much left to lose, and China still needs more to be in that position. If the EU played it right, they could slip into that role, but I don't know if they're in a position or have the interest to do it, either. Gold standard, anyone?

[–] [email protected] 2 points 2 days ago (1 children)

I mean, the EU couldn't really stop people from just moving towards the Euro. Unless I'm missing something it's the obvious candidate.

Now that I've thought about it a bit, measuring fluctuations in terms of some kind of weighted basket of other currencies would be best, although that's a bit more complicated.

[–] GreyEyedGhost 2 points 2 days ago

They could position themselves to not be as attractive, which i suspect goes against their current policy. The biggest issue is global confidence. I'm not sure they're there now, and with some of the issues with some countries' economies having a negative impact on the Euro, they may not be able to increase confidence sufficiently without hurting those countries or perhaps other countries to compensate for that. So not so much stopping others from using it, but not doing enough to raise that confidence sufficiently.

This is entirely speculation on my part, and not something I've studied intensely. I'm sure some economist could point out enough holes to make that look like a screen door, but there are only a handful of currencies that have the value, economic stability, and management philosophy to really fit the bill.