Loonie soars above 0.80 for first time in two years

The loonie soared above $0.80 USD for the first time in two years this morning, getting a lift from a positive report by the International Monetary Fund.

The IMF expects Canada to lead the G7 when it comes to economic growth this year, predicting the economy will grow by 2.5 %t.

That's up from its spring prediction for growth of 1.9%.

The IMF says it revised its outlook based on strong first quarter growth and signs of resilient second-quarter activity.