The rising Canadian dollar could have been the final straw that led Canfor Corp. to close three sawmills in British Columbia, putting nearly 600 people out of work, analysts say. The loonie has risen about 14 per cent since the first quarter, which is putting a further squeeze on exports of lumber in an already depressed market, said BMO Nesbitt Burns analyst Stephen Atkinson. "These things have been planned for a while but I think the runup in the currency would be the last straw," Mr. Atkinson said yesterday. The Canadian dollar was trading at an average of about 80 cents (U.S.) in the first quarter. Yesterday, it was trading at around 91 cents. CFP (TSX) closed at $5.61, up 3 cents.
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