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UPDATE 1-Trudeau sees challenges, opportunities from cheap Canadian dollar

Published 2015-12-17, 03:55 p/m
© Reuters. UPDATE 1-Trudeau sees challenges, opportunities from cheap Canadian dollar

(Adds quote on weakening dollar, background)
VANCOUVER, Dec 17 (Reuters) - The Canadian government
recognizes the challenges that a cheap currency poses and will
work to ensure the country takes advantage of the low Canadian
dollar, Prime Minister Justin Trudeau said on Thursday.
"Obviously that the economy of our largest trading partner
(the United States) is picking up is a good thing potentially
for Canada," he told reporters in the second straight day of
comments on the currency's fall.
"But whenever there are shifts in the value of the dollar,
particularly decreases, there are both challenges and
opportunities that arise across different sectors in the
economy, and what we need to make sure we're doing as a
government, as an economy, is maximizing the opportunities and
minimizing the negative impacts of a decreasing dollar."
The Canadian dollar is near an 11-1/2-year low, partly as
the result of U.S. dollar strength on the back of the Federal
Reserve rate hike and partly due to the continued slide in the
price of oil, a major Canadian export.
Trudeau said Ottawa would be working with stakeholder and
other levels of government "to ensure that we are adapting and
creating opportunities out of a lower dollar."

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