The Canadian dollar staged a strong rally against the lower-yielding yen and greenback during early Asian trading on Monday.
The loonie advanced to 1.041 against the greenback by 7:10 pm ET, the highest level since September 29, 2008. If the Canadian dollar gains further, resistance is likely to be seen near the 1.03 level. The pair was worth 1.0436 at Friday's close.
Against the yen, the Canadian dollar rose to near a 5-week high of 86.41 around 7:45 pm ET. This may be compared to last week's close of 86.11. The next upside target for the loonie-yen pair is seen around the 87.0 level.
For comments and feedback contact: editorial@rttnews.com
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.