The Canadian dollar drifted lower against its major rivals in the European session on Monday.

The loonie declined to 85.24 against the yen, its lowest since December 5.

The loonie retreated to 1.3307 against the greenback and 1.0074 against the aussie, from its early 4-day highs of 1.3268 and 1.0027, respectively.

Extending early decline, the loonie slid to 1.4291 against the euro, its lowest since December 30.

The loonie may locate support around 84.00 against the yen, 1.34 against the greenback, 1.02 against the aussie and 1.44 against the euro.

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