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If we set the real effective exchange rate index between Canada and the United States equal to 100 in 1998, and find that the U.S. dollar has risen to a value of 112.6, then from a competitive perspective the U.S. dollar is:
Vernix Caseosa
A white creamy biofilm covering the skin of the fetus during the last trimester of pregnancy, protecting the newborn's skin.
Lanugo
Fine, soft, unpigmented fetal hair.
Colostrum
Thin, white fluid; the first milk secreted by the breast at the termination of pregnancy; contains less fat and lactose than the milk secreted later.
Fetal Hair
Also known as lanugo, it is the fine, soft hair that covers the body of a fetus as a form of insulation.
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