Canadian Dollar Climbs Against Majors

The Canadian dollar strengthened against other major currencies in the European session on Thursday.

The Canadian dollar rose to more than a 4-month high of 86.55 against the yen, from an early low of 86.05.

The loonie advanced to 1.3007 against the U.S. dollar, from an early low of 1.3044. This may be compared to an early near 5-month high of 1.3006.

Against the euro and the Australian dollar, the loonie edged up to 1.4829 and 0.9973 from early lows of 1.4889 and 1.0007, respectively.

If the loonie extends its uptrend, it is likely to find resistance around 88.00 against the yen, 1.29 against the greenback, 1.44 against the euro and 0.98 against the aussie.

The material has been provided by InstaForex Company – www.instaforex.com

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