Our dollar just dropped 3 cents to the American in 2 days. I have the option of writing a certified check today in american funds and for 56,000 I expected a bounce today but the dollar kept falling. Helps the grain prices but new machinery payment is higher, by a lot. Crap we can borrow 100 grand these days for only just over 3 percent a year.
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Shany I suppose no one could have posted the currency risk at a better time than you did.
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must have been standing on my head today, down 2 cents yesterday up 1 today so it did bounce back, bigger question is why such a drop yesterday. Actually have the option of writing the certified check in american funds today or wait a week and do it on delivery. Just a bit shocked at a 2 percent drop. A thousand dollars here and there is not really a big deal when trying to get the crop off.
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Suspect a bit the fact the Bank of Canada highlighting the fact the higher valued Canadian dollar is hurting the economy but more important perhaps is the normal ebb and flow of the market in these volatile uncertain times. Others will deal with the issue better than I will but note the overall move higher in commodities in the last couple of days. Some influence declining US dollar. See what other comments people have.
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Curious response.
So if you were making a USD $50,000 purchase in the next weeks, when would
do your currency conversion?
If were a Canadian exporting company with $10 mln of currency exposure in the
US market over the next 6 months, would you be fully hedged? What tool would
you use?
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