The Figure Below Shows the U

The figure below shows the U.S.dollar-Canadian dollar nominal exchange rate from January 1971 to March 2008.

-During the first half of the 1970s,the Canadian dollar

A) traded roughly at par with the U.S.dollar.
B) traded above par with the U.S.dollar.
C) traded below par with the U.S.dollar.
D) was at its fundamental value.
E) was undervalued.