Canadian finance minister Flaherty says that Canadian growth will be modest, not torrid and that he shares the BOC’s concern over CAD volatility. Canadian fundamentals are strong but he is concerned about the weak US economy. Canada has not yet seen firm, entrenched, significant economic growth, Flaherty said.
USD/CAD has popped back to 1.0460 as the dollar rebounded late in the US session on a downturn on Wall Street. It bottomed earlier at 1.0380.
