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Strategies & Market Trends : Canadian Dollar

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To: james paterson who wrote (20)	1/26/1997 5:19:00 PM
From: Robert Salasidis	of 103

#1 - Apparently the grumblings about the deficit war came from Liberal party members, but Chretien still wants to remain firm on deficit fight (in local Newspaper today) #2 - The Canadian $ current valuation has played a large part in the current account surplusses that Canada has enjoyed of late. The unemployment rate is still high enough that I believe the Bank of Canada can continue to lower short term rates (already at 3.25%) even further. But at some point its valuation will rise. Most predictions I have seen are in the range of .75-.78 (with .77 being most prominent). While this may hurt the export industry, hopefully the economic benefit of a lower lending rate would be able to offset it. While on the subject - I currently hold many US securities but I live in canada and get paid in Can$. What is the least risky (and costly in terms of fees) way to hedge against any rise in the Can$ (assuming that any drop will be offset by my US$ holdings)

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