We prefer a competitively priced exchange rate. From time to time, exchange rates have a tendency to over- or undershoot in the market. This can be the case if, for instance, global imbalances lead to a depreciation or an appreciation in some of the more significant currencies such as the American dollar.
Indeed the current level of the dollar is occasioned in the main by the large American current account deficit on their balance of payments. For as long as the rest of the world is willing to finance this deficit by buying American assets, the current account deficit is easily financed but the market seems to have become somewhat doubtful recently.