The Canadian dollar drifted lower against its most major currencies in early European deals on Monday.

The loonie hit 1.2463 against the greenback, its lowest since March 2009.

The loonie fell to 1.3994 against the euro and 0.9852 against the aussie, from an early high of 1.3825 and a multi-day high of 0.9780, respectively.

If the loonie extends side, it may find support around 1.255 against the greenback, 1.41 against the euro and 0.99 against the aussie.

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