These are troubled times for the markets with equities down, yields up, inflation, lost luggage, and now recession grumblings. Yet the most recurring question during client events remains the Canadian dollar. While these questions are predominantly aimed at the CAD/USD exchange rate, currency has become increasingly impactful at the portfolio level over the past year. Not to be outdone by the volatility in equities and bonds, currency volatility has also been right up there this year.

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