Well, in my business, I can tell you the higher Canadian dollar has cost two of 15 jobs -- one in the US and one in Canada -- as I fight to find the cost savings needed to survive. if the dollar declines much further, we will hit the 'inflection point' where it will be cheaper for my companies(and presumably other multinationals which are much larger businesses) to source most of my supplies and services in the US and export back to Canada, definitely not a good thing for the Canadian economy!
Fortunately air/travel costs are not a painful part of the equation, thanks largely to FT and this forum.