Perhaps I could go first. This time last year the Canadian dollar was at 84ยข. I think when those hearings took place it was probably close to $1.10. Nobody could have foreseen that, and that rapid surge in the dollar has overwhelmed most companies. Most exporters will be in a loss position in their last quarter of last year, and we're beginning to see the consequences of that now.
I think looking forward the risk is on the upside for the Canadian dollar, even with the aggressive interest rate cut we've seen, and it has nothing to do with the Canadian dollar. It has everything to do with the weakness of the U.S. dollar and the fact that the banks of China and Taiwan and Singapore and Japan have better places to put their money than in the U.S.