Flaherty: always worried by dollar's volatility

Fri Mar 12, 2010 10:03am EST
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TORONTO (Reuters) - Finance Minister Jim Flaherty, asked about the recent rise in the value of the Canadian dollar, said on Friday he is always worried about volatility in the currency.

The dollar hit its highest level against the U.S. currency since July 2008 on Friday after firmer than expected Canadian employment data. Manufacturers say that a strong Canadian dollar makes it harder to sell their goods.

"We are always concerned (about) volatility in the dollar," Flaherty told reporters. He said a stronger dollar did have benefits, in that it helped Canadian manufacturers acquire foreign technology and thereby become more competitive.

(Reporting by Ka Yan Ng, writing by David Ljunggren; editing by Peter Galloway)