FX Week

No rate cut to halt loony

The Canadian dollar appreciated rapidly last week, achieving new 10-year highs against the US dollar on several occasions. Canadian finance minister John Manley said last Thursday that the concern is over the speed of the change, though the value of the dollar does reflect improving economic fundamentals. It's "difficult for companies to make the adjustment when the change happens as rapidly as it has occurred", he said. "I'd rather it were steady and that companies had time to make adjustme