Canadian dollar dips on mixed data January 18, 2021SharePrint The Canadian dollar is down slightly in the Monday session. Currently, USD/CAD is trading at 1.2759, up 0.22% on the day. Short squeeze boosts US dollar The week ended on a high note for the US dollar, which recorded broad gains. USD/CAD is in positive territory again on Monday, and the pair touched a high of 1.2799 earlier in the day, good enough for a 1-week high. The US dollar has regained its form in the New Year after a dreadful 2020. The slide of the dollar has resulted in so many short positions that the dollar’s rebound has triggered a short dollar squeeze, which has given the dollar some momentum, as we saw on Friday.