SynClear's chairman argues that, as the exposure is positive and the only possible exchange rate change is

Question:

SynClear's chairman argues that, as the exposure is positive and the only possible change is an appreciation of the cad, the only possible change is an increase in the value of the subsidiary. Therefore, he continues, the firm should not hedge: why give away the chance of gain? How do you evaluate this argument?
Exchange Rate
The value of one currency for the purpose of conversion to another. Exchange Rate means on any day, for purposes of determining the Dollar Equivalent of any currency other than Dollars, the rate at which such currency may be exchanged into Dollars...