Fighting To Slay Two Dragons At Once

Bank of Canada Governor Gordon Thiessen recently confessed that his dream was "to give boring speeches in calm times." He's definitely out of luck, as Canada's financial markets are anything but calm these days. Despite hiking interest rates almost weekly since November, Thiessen has been unable to prevent investors from dumping their Canadian dollars. As of Jan. 24, the Canadian dollar hovered just above 70 cents U.S. (chart). That's down from 74 cents last fall and just a penny above the all-time low in 1986.

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