Reuters: US Dollar Report: Canada's Flaherty says rising confidence important

Reuters: US Dollar Report Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

Canada's Flaherty says rising confidence important May 25th 2012, 17:24 TORONTO | Fri May 25, 2012 1:24pm EDT TORONTO May 25 (Reuters) - Canadian Finance Minister Jim Flaherty said on Friday that rising consumer confidence in North America is a more important economic signal than the recent depreciation of the Canadian dollar. "I think consumer confidence is what's important," Flaherty told a reporter from Business News Network television when asked which of the two trends is a more accurate indicator. "If the range of movement of the dollar is relatively minor, I'm not terribly concerned about it because we see some fluctuation like that from time to time and year to year. But consumer confidence is difficult to regain once it's lost," he said. He also said that on a scale of one to 10, the degree of instability in Europe right now is a "five".

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