Times: Canada should put its loonie pride on hold

the current account deficit is falling sharply. In purchasing power terms, the dollar is now absurdly out of whack with all other currencies, as anyone who has bought a five-dollar ice-cream in London can attest. In any case, the financial turmoil in the UK in recent weeks and question marks over the Bank of England’s credibility may start to produce a fall in sterling – at least one of the important cross-rates. Even if the dollar does fall further, if the US economy avoids a recession in the next few months – still a probability – expect the greenback’s long slide to begin to reverse.