Bank of Canada governor David Dodge said the decline in the Canadian dollar reflects fundamentals,'' and isn't surprising'' in light of slowing economic growth and a decline in crude oil prices.

By and large the movement in the currency has reflected fundamentals,'' Dodge told reporters Sunday at a meeting of central bankers from the Group of 10 industrialized nations in Basel, Switzerland.

We've had some weakening of resource prices, so it's not totally surprising that there will be

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