O Canada! Your dollar shines like thee..

Above sung to the Canadian National Anthem. For the first time since the 1970's the US Dollar and the Canadian dollar have reached parity. That's right - no hopping north of the border for some cheap smokes and booze! See what happens when the Fed flirts with a total dollar accident with a "market saving" 50 basis point cut to the fed funds rate? From Market Watch today: The dollar has fallen significantly against most major currencies since the Fed made a larger-than-expected half-point cut in both its federal funds target as well as the discount rate on Tuesday, in a move aimed at preventing the credit woes from the subprime mortgage meltdown from dragging down the broader economy. Lower rates erode the returns on dollar-denominated assets, so the Fed's announcement sent the dollar