People are buying the U.S. dollar across the board on expectation of further rate hikes. Rate expectations in Canada have come down. You will see more U.S. dollar strength on the yield gap.
We don't expect the U.S. dollar rally to be a long lasting thing. The bigger trend is still Canadian dollar strength.
We think the Bank of Canada might tone down its rhetoric.
Energy prices are rallying today, which push the Canadian dollar higher.
Energy prices are coming off, mitigating the positive effects of the current account number. The Canadian dollar is still closely tracking energy.
I have times when I despair, and I cry. There are moments when I want to give up. But my husband needs me. So I get up for one more day.