FXStreet reports that уconomists at Standard Chartered expect the USD/CAD downtrend to continue towards 1.20 over the coming weeks.  

“Provided we have no further pandemic setback, the counter-cyclical USD should fall and currencies such as the AUD, NZD and CAD should continue to appreciate.”

“With the expected US recovery package and anticipated infrastructure bill thereafter, the US-centric Canadian economy should outperform as it concurrently ramps up its domestic vaccination programme. This should be a catalyst for the USD/CAD downtrend to continue towards 1.2000 in the coming weeks, while technical resistance around 1.2880 likely caps any short-term bounce.”