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Forex News: Canadian Dollar Trades Higher Against Majors

Canadian Dollar Trades Higher Against Majors

05/10/2018 - 05:47:00 (RTTNews)

(RTTNews) - The Canadian dollar traded higher against its major counterparts in early European deals on Thursday.

The loonie climbed to 86.06 against the yen, its strongest since February 13.

The loonie strengthened to more than a 2-week high of 1.2775 against the greenback and near a 4-month high of 1.5150 against the euro, off its early lows of 1.2862 and 1.5239, respectively.

The loonie firmed to 0.9555 against the aussie, a level unseen since June 2016.

On the upside, the loonie may target resistance around 87.5 against the yen, 1.26 against the greenback, 1.50 against the euro and 0.94 against the aussie.

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