FXStreet reports that economists at Mizuho Bank expect USD/CAD to move in a range between 1.22-1.28.

“The US and other nations are seeing a rise in COVID-19 cases on the spread of new variants, so the Canadian dollar will be sold at times on risk aversion, with the USD/CAD pair likely to rise to around 1.28 at times. However, the Canadian economy is recovering at a steady pace, even compared to other developed nations.”

“With expectations for rate hikes also growing, the Canadian dollar looks set to move firmly, with USD/CAD expected to move between 1.22-1.28 in August.”