The Canadian dollar's value from 1997 to 1999 was mainly influenced by world commodity prices and Canada-U.S. interest rate differences. Speculative behavior didn't have a big impact on the currency's value. Predicting future exchange rate movements is tricky due to the unstable nature of the factors involved. Market turbulence is often caused by external shocks and fundamentalists, not noise traders. Trying to stabilize the exchange rate through interventions can backfire and harm market efficiency.