Canadian dollar: Spocking the loonie
The Canadian dollar typically trades in the shadow of the all-powerful US currency, but last month that momentarily changed as global interest in the ‘loonie’ soared to intergalactic highs.
That wasn’t because the Bank of Canada dramatically altered monetary policy, or the world’s hedge fund community decided to take a massive collective short position in the currency on the expectation that the country’s economy would nosedive.
No, highly illogical perhaps, it was caused by the death of American actor Leonard Nimoy, most famous for his enduring portrayal as Mr Spock in the sci-fi series Star Trek.
As a mark of respect to Nimoy’s passing, Canadian trekkies took to altering the portrait of Canada’s seventh prime minister Sir Wilfrid Laurier on five dollar notes to look like Mr Spock.
The act of ‘spocking’ – as it’s known – went viral within days, forcing the central bank to intervene, denouncing the trend as “inappropriate” as the notes are “a symbol of our country and a source of national pride”.
Euromoney, naturally, entirely agrees with that assessment. And in support of the BoC, we suggest: Go long the Canadian dollar, and prosper.