In terms of your question, again, the exchange rate is a price that is set in markets. A critical issue in certainly the conduct of monetary policy is to constantly ask, whatever level the Canadian dollar is trading at, why is it trading at that level?
Going back to the very first question, we know that a number of factors can influence the exchange rate—movements in commodity prices, the impact on the Canadian economy of the U.S. economy and the weakness we've seen there—so it truly is a relative price. We don't target any particular level of the exchange rate, but we do need to have a view as to what is moving it around and what would seem to be a reasonable range for the Canadian dollar to trade in based on the relationships we've seen in the past and the factors that can have that more lasting influence on the Canadian dollar.
In terms of our monetary policy report update—and again, I will stress that here I'm going to repeat what we said there—we are just going into our deliberations for next week's policy decision, and as always, we add up all the information that's available. But I do want to answer your question in the context of the monetary policy report update of January. In that report we indicated that we saw a trading range of around 98¢ as not being inconsistent with the factors that we think are fundamental in determining the movement of the Canadian dollar. Indeed, in putting that base case projection together, we assumed a level of 98¢ for the Canadian dollar.
John, did you want to add anything to that in response to the question?