Today on BNN we’re tracking the frustration of Bank of Canada Governor Stephen Poloz, who has seen the Canadian dollar climb to four-month highs not far short of 77 cents U.S., hindering his efforts to juice economic growth.

And we’re weighing the possibility that he cuts rates again, a move that would be likely to depress the currency. “Poloz's messaging continues to reinforce the risk of further monetary easing in Canada,” Toronto-Dominion Bank (TD.TO) economists say.

Portfolio manager Greg Taylor told us yesterday that the central bank will “do everything they can to lower the Canadian dollar”. And CIBC economist Benjamin Tal has regularly argued that the BoC has an “agenda” to weaken the dollar.

“We are the victim of a drive-by shooting,” Baskin Wealth Management President David Baskin told us about the spillover from U.S. President Donald Trump’s policies. “We’re collateral damage. We’re just roadkill. And there’s not much Stephen Poloz can do about that.”

FEATS OF STRENGTH

The loonie’s recent strength is largely a result of U.S. dollar weakness as President Trump and his team indicate that they’re frustrated with the low currencies of trading partners such as Germany. That has driven the greenback to 12-week lows against world currencies.

Trump told The Wall Street Journal last month that the U.S. dollar is too high against China’s currency “and it’s killing us.”

And his pitbull on trade, Peter Navarro, griped to the Financial Times that “Germany...continues to exploit other countries” with a euro that’s “grossly undervalued.”

The Economist isn't buying it. The magazine says “only someone who has not read the paper for the last 15 years could argue that Germany has been trying to drive the euro down… The Bundesbank has consistently opposed additional stimulus from the European Central Bank.”

Steven Mnuchin, the next U.S. Treasury Secretary (pending confirmation), has seemed to counter Mr. Trump’s statement by saying that “when the president-elect made a comment on the US currency, it wasn’t meant to be a long-term comment.” For The Economist, “it all adds up to incoherence.” 

The higher Canadian dollar could help keep this country off Trump’s protectionist radar.

But David Rosenberg, chief economist and strategist at Gluskin Sheff + Associates, told us in January that even if the loonie fell to 70 cents, it’s unlikely that this country would become a trade target. He joins us today at 4 p.m. ET.

POWER PLAY

We’re tracking Cameco (CCO.TO), which has dropped around 10 per cent in U.S. pre-market trading today after the uranium giant said Tokyo Electric Power Company Holdings or TEPCO wants to scrap a uranium supply deal. Cameco says it “sees no basis for terminating the contract, considers TEPCO to be in default, and will pursue all its legal rights and remedies.”

We’ll be joined by CEO Tim Gitzel on Commodities at 11:30 a.m. ET.

YOUR MONEY MONTH

And today marks the start of our Your Money Month coverage on BNN in the run-up to the March 1 deadline for RRSP contributions to get a tax deduction for 2016. At 2:45 p.m. ET, we’ll be joined by Ryan Gerstel, ‎an adviser at CIBC Wood Gundy who says timing is a vital factor in building and implementing a financial plan.