The Canadian dollar drifted higher against most major counterparts in European trading on Friday.

The loonie rose to a 2-day high of 1.4543 against the euro, 4-day high of 77.97 against the yen and a 3-day high of 1.2877 against the greenback, from its early lows of 1.4583, 77.76 and 1.2922, respectively. The loonie is likely to find resistance around 1.27 against the greenback, 79.00 against the yen and 1.44 against the euro.

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