The Canadian dollar erased its early gains against the Japanese yen and the euro in European trading on Thursday.
The loonie was trading at 85.40 against the yen and 1.4585 against the euro, off its early 5-week high of 85.78 and a 3-month high of 1.4522, respectively. The next possible support for the loonie is seen around 84.00 against the yen and 1.48 against the euro.
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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.