I'm wondering if the new U.S. rules requiring a passport to enter the US from Canada for everyone (including returning US residents, although they may get to use the new special ID the govt is considering) will affect the position of the Canadian dollar to the US dollar? I think it's going to result in a lot of Americans who normally would cross the border stay home instead. It'll be especially so in states that border with Canada (which is a lot of real estate!) where people often go to Canada just for the day. If you don't travel elsewhere, you're not going to want to have to buy a special ID or get a passport just to see some Canadians. On the other hand, it's going to cut down a lot of Canadians visiting the US, since they'll need a passport instead of just a drivers license like before. Do you think the two will balance out and they'll be no net effect? Or is this going to start a real change in the relationship of the two countries that is going to carry over into valuations of currency?