Thank you.
Mr. Drummond, I want to start with you on a couple of questions I have.
First of all, it seems to me that the value of the dollar--and this is of course what most senior economists are saying--is more a symptom of U.S. softness and a soft U.S. economy and overall problems in the United States. Of course, within that--and I believe you already touched on this in your question--the U.S. has certainly not been exempt from the problems we see in manufacturing here in Canada. Clearly they're not affected by the high Canadian dollar in a place like Michigan, where they have lost well over 200,000 manufacturing jobs, I believe, in the last 18 months.
So I want to ask very briefly, with respect to the dollar, would you agree that it's more a symptom of issues in the U.S., as well as the strong resource market, than it is an issue of strictly the monetary policy of the central bank?