The overall environment for the Canadian is negative as the outlook for Chinese growth isinjured, Europe continues to apply stimulus to arrest slowing in that area and the Dollar looks to continue to winby default. US numbers are just good enough to favor the Dollar and the Fed indirectly confirmed that withguidance that remained the same but was qualified by suggesting there is no mechanical system in place for howlong US rates will remain low. The Canadian was probably undervalued down at 90.00 but the currentenvironment hardly justifies a significant run up from consolidation support around the 90.70 level.
