Which of the Following Statement Best Describes the Movement of the Canadian

Multiple Choice

Which of the following statement best describes the movement of the Canadian dollar against the US dollar in the period 2002-2008?

A) The Canadian dollar appreciated because demand for natural resources such as oil increased.
B) The Canadian dollar depreciated because demand for commodity decreased.
C) The Canadian dollar appreciated because the US exports to Canada increased.
D) The Canadian dollar depreciated because the interest rate in Canada was lower than US.