I don't have much to add, but I'll add a little.
As Paul indicated, it's hard to know where the exchange rate quote should be, but certainly there are forces that you can identify that can explain the appreciation we've seen, certainly the direction of movement over the last four or five years, and these are fundamental forces that in one way or another are impossible to suppress. If you tried to, they'd just manifest themselves in another way.
I think in our earlier appearance Paul presented a kind of counter-factual...and one of them concerned “what if”. What if the exchange rate, for whatever reason, were lower than it is now? What might some of the other consequences of that be? If it were dramatically lower, there's a possibility that what we'd see is an improved competitive position for manufacturing, and that sounds great, but we'd find an economy that would be operating in very high gear, with resulting inflationary pressures. I guess the only observation I'd make from that is that what you think you might gain through a lower exchange rate you could probably find yourself losing in the form of higher inflation.
So your competitive position, ultimately, in the manufacturing sector would not be much changed.