No need for currency intervention - Dodge

The governor of the Bank of Canada says there is no justification for active market intervention by the central bank to sway the recent strengthening of the Canadian dollar.

Speaking in St. John's, Newfoundland, Dodge said intervention in the foreign exchange market would be inappropriate because the factors that would trigger such a move under Bank of Canada guidelines - disorderly markets or extreme volatility - have not been observed.

"We haven't had disorderly markets, which is one of the

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