The Canadian dollar drifted higher against its major counterparts in pre-European deals on Monday.

The loonie advanced to a 1-week high of 1.3188 against the greenback and more than a 2-week high of 86.06 against the yen, from its early lows of 1.3268 and 85.61, respectively.

The loonie edged up to 0.9716 against the aussie, off its early more than a 4-month low of 0.9775.

The loonie strengthened to a 6-day high of 1.4989 against the euro, from its early low of 1.5042.

The next possible resistance for the loonie is seen around 1.30 against the greenback, 87.5 against the yen, 0.96 against the aussie and 1.48 against the euro.

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