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It's only in part due to the value of the canadian $. The Canadian $ value was way worse before 2006 and games was 59.99$
I bought my copy of Fable in september 2004 with a canadian dollar value of ~0.77 and it was 59.99$. games have always been $ 59.99 since I buy video games. (N64 area) with few exceptions. So yes sony is taking advantage of their lead. http://www.x-rates.com/average/?from=CAD&to=USD&amount=1.00&year=2004

Edit: But it has more to do with a company that can't afford to lose a single $ than the company's will to take advantage of the situation. IMO.