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Canada’s Murray says currency markets are operating soundly

Posted on 20 November 2013

Bank of Canada Deputy Governor John Murray said that even though currencies and other assets have periods where they overshoot fundamental values, the relationship between exchange rates and retail prices is working as it should.
“As with any asset price, bouts of temporary overshooting and excess volatility are common,” Murray said in a speech at Mount Allison University in Sackville, New Brunswick. “However, the broad trends and behavior of these markets are more positive than many believe and earlier evidence might indicate.”…………………………………..Full Article: Source


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