The Canadian dollar retreated to 1.29 per USD in the 4th week of December from 1.27 in the previous weeks which was highest level since May of 2018, as a general risk-off sentiment boosted the USD. A new coronavirus strain was announced by the UK, prompting several countries including Canada to ban flights from the UK. A plunge in oil prices also pushed the Loonie down.
Historically, the Canadian Dollar reached an all time high of 1.62 in January of 2002. Canadian Dollar - data, forecasts, historical chart - was last updated on December of 2020.
The Canadian Dollar is expected to trade at 1.29 by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 1.30 in 12 months time.