The Canadian dollar appreciated significantly against the U.S. dollar over the years 2002- 2006. This appreciation was partly explained by

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The appreciation of the Canadian dollar was partly explained by an increase in world commodity prices, as Canada is a major exporter of natural resources such as oil, gas, and lumber. The rising demand and prices for these commodities contributed to an increase in demand for Canadian dollars, resulting in an appreciation of the currency.

The Canadian Dollar Appreciated Significantly Against the U