FXStreet reports that analysts at Danske Bank forecast the USD/CAD pair will move higher in the months ahead, targeting 1.34 in one months and 1.33 in three months. Nonetheless, the loonie will recover on a six-to-twelve month period.

“...given our views on the global economy, vaccines and policy responses, we still factor in a lower USD/CAD on a six-to-twelve horizon.”

“We forecast USD/CAD at 1.34 in one month (from 1.30), 1.33 in three months (1.28), 1.32 in six months (1.28) and 1.32 in twelve months (1.30).”