老掐打擦边球. The simple rule is when fed rate is increased, dollar value increases and all other assets including stocks, housing, gold, etc decrease in value. Plus, by looking at the world economy, US economy has so far fared much better than any other developed countries' (EU, China, etc) such as its strong employment condition, plus all 老掐 just said. All these have made the stronger dollar trend become much stronger. On the other hand, when gold is down, crude oil is softening in price, and Canadian housing bubble ranks one of the worst in the world, BoC must be more hawkish if it wants Canadian dollar to maintain a stable rate with US dollar.