Loonie

The loonie is one of the currencies shouldering a disproportionate share of the U.S. greenback's decline, Tamim Bayoumi, head of the North American division of the International Monetary Fund's western hemisphere department, said on Tuesday. "The fall in the U.S. dollar is probably on net a good thing," said Mr. Bayoumi, echoing comments made by the IMF managing director Dominique Strauss-Kahn at the G20 meeting last weekend. "We've had a view for a long time the U.S. dollar is overvalued and that to lower global imbalances it needs to depreciate."