Fragile Recovery for CAD

Cited earlier today from an interview with Bloomberg television, Canadian Finance Minister Flaherty was quoted as saying that the level of the Canadian dollar is "competitive". Mr. Flaherty also noted that he does not anticipate the CAD reaching an appreciated level which will cause it to become uncompetitive.  Last week, the loonie traded at its strongest level in nearly two years against the USD. Mr. Flaherty also stated that Canada's economy is improving, but the recovery is "fragile" and the government will continue its stimulus program into 2011 despite the economy's fourth quarter growth being it's fastest since 2000.