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To: alex ma who wrote (3602)	11/26/1997 11:34:00 PM
From: Albert V	Respond to of 116810

The recent strength of the U.S. dollar has no doubt had the Canadian dollar struggling to keep up with it. Maybe its time to short bank shares as Can gov will no doubt have to raise interest rates again. Albert

To: alex ma who wrote (3602)	11/27/1997 2:31:00 AM
From: Richnorth	Respond to of 116810

The Canadian interest hike (25 basis points) was made to "protect" or "defend" the Canadian dollar according to what was in the newspapers. It was an attempt to reduce capital outflows to the U.S. The U.S. dollar may be getting close to devaluation time. It will come 1. when bigtime investors lose faith in U.S. bonds and equities and start a massive selloff. If there are no buyers, the U.S. dollar will be devalued. 2. when as a result of the U.S. dollar being so strong relative to other currencies that have been devalued competitively, the U.S. is forced to devalue in order to be able to export its goods overseas. In the eyes of a number of market watchers, the time of devaluation of the U.S. dollar may be very near.