'Canadian dollar outvalues American' was a much more eye-grabbing title. This is the tidbit people care about. The intraday high was US$1.0008. By anyone's measure, actually Wall Street's, which is the only one that matters, the Canadian dollar outvalued the American. Since this is a news headline, we use the present tense to indicate something that occurred in the past.

Tomorrow when the CAD falls below the dollar are we going to re-edit the title to say 'Canadian dollar well below American'?

The US dollar has last between 30% and 45% of its value in the last 5 years depending on which currency you compare it against. This is unfortunate, but not too surprising.

:(

This will stay for next couple of years - Canadian economy is strong so even if US$ doesn't depreciate CN$ will keep on appreciating ... also a further rate cut is expected in US this will surely depreciate greenback - unfortunately goods at Canadian retailers are still expensive by 20% to 40% - but net customer can go on canadian websites of ebay, tigerdirect, etc. and buy cheap.