Let's party like it's 1976

For the first time in over a quarter century, a FrozenTundraMicroPeso is at par with the mighty, mucho-macho American dollar:

The Canadian dollar reached parity with the U.S. dollar this morning for the first time since November 1976.

The loonie has been gaining on its American counterpart since bottoming out below 62 cents in early 2002.

It has risen about five U.S. cents since the beginning of the month.

Helping the Canadian dollar reach the same level as its U.S. counterpart has been continuing weakness with the American currency.