The USD/CAD pair broke out of its Asian session consolidation phase and climbed to 1-1/2-week tops, just above mid-1.3600s in the last hour.
The pair prolonged this week's goodish recovery move from levels below the key 1.3500 psychological mark and gained traction for the third consecutive session on Thursday. The uptick was supported by a combination of factors, including some follow-through US dollar strength and a weaker tone surrounding crude oil prices.
Investors remain concerned about the ever-increasing number of new coronavirus cases globally and the possibility of renewed lockdowns to control the spread. This, in turn, dampened prospects of a sharp V-shaped global economic recovery, which was reaffirmed by the latest projections by the International Monetary Fund.