Kukla's Korner Hockey
Entries with the tag: canadian dollar
Mind you, a decent portion of this decline is due to the worldwide slowdown in the economy over the past week or so, but it's not good news for the NHL, NHLPA or teams that count upon an ever-increasing salary cap:
The unpredictable nature of the Canadian dollar means the NHL’s six Canadian teams are involved in a high-stakes contest of financial chicken, trying to stay one step ahead of the loonie at all times.
It’s a game they can ill afford to lose.
As recently as last November, the Canadian dollar briefly reached $1.10 US, and still hovered above par with its American counterpart in May. But on Wednesday the once-mighty loonie plunged below 80 cents U.S., and it could keep falling, according to market experts.