The dollar is under pressure. This started early in the Far East, with news of South Korea's plan to change reserve ratios.
This has mainly to do with the comments from the (U.S. Federal Reserve) indicating they perhaps are looking at a 'one and done' situation as far as tightening goes for the initial part of 2006.
In general if you see oil, gas natural gas and gold all selling off you know the Canadian dollar is probably not far behind.