"I reported hearing is poised to strike parity with the US dollar followed by its hitting $1.60 against it, eventually."

I keep hearing similar voices about canadian and australian dollars but we have to remember that the canadian economy is tied to american through the NAFTA ( read automotive production ) agreement. When the US sneezes we catch a cold.
Well the US is not only sneezing but seems to coughing up some flu bugs lately.
Also to remember that our BofC governor is an import in place of the deputy governor that many canadians expected ( including me ) to be our next one. Basicly Bofc is towing the US dictum.

Just a short while ago the looney was poised to make a big move until we lowered the interest rate. Current move up is just a shadow of what it whould have been, imho.
Looney being worth 1.6 green backs may happen but not in my life time and not as long as we have the same governor at BofC.
Par is definitely possible and soon. Change of government in Canada is just as likely and I am hoping.