The Canadian dollar pulled away from its early highs against the U.S. dollar and the Japanese yen in pre-European trading on Monday.
The loonie was trading at 80.40 against the yen, off its prior high of 80.89. The loonie is thus on track to violate its early more than 3-year low of 79.86.
The loonie reversed from its early high of 1.4507 against the greenback, edging down to 1.4558. This may be compared to near a 13-year low of 1.4605 hit against the greenback in previous deals.
The next possible support for the loonie is seen around 79.00 against the yen and 1.46 against the greenback.
The material has been provided by InstaForex Company – www.instaforex.com