RE:RE:U.S. dollar depreciationIf you look at the utilities sector ETF XUT which targets the Canadian utilities, close to 60% of its holdings are in companies (FTS, BIP.UN, EMA, AQN) which earn a significant amount of their revenues in U.S. dollars... when the Canadian dollar appreciates relative to the U.S. dollar, as it has over the past 5 months together with a continuation of expected weakness in the U.S. dollar then the earnings of these companies will certainly be impacted in a negative way..