TOKYO, Oct 13 (Reuters) – The appreciation of the Canadian
dollar reflects the strength of Canada’s economy and commodity
markets, the country’s finance minister said on Saturday.
Speaking on the sidelines of the IMF-World Bank meetings in
Tokyo, Jim Flaherty suggested the Canadian dollar would remain
in its current trading range against the U.S. dollar for some
time. The Canadian dollar recently hit a 13-month high against
the greenback and data shows Canadian exports are falling.
“I think most Canadian business people are accepting that
the dollar will be in the range it is for a while and relatively
strong vis- -vis the U.S. dollar,” Flaherty told Reuters. “It is
a reflection of the commodities markets; it’s a reflection of
the fact that we still have some strength in the Canadian
economy.”
(Reporting by Lesley Wroughton; Editing by Tim Ahmann)
