The Canadian dollar strengthened against other major currencies in the Asian session on Wednesday. The Canadian dollar rose to more than a 4-1/2-month high of 0.8943 against the Australian dollar, from yesterday's closing value of 0.8955.

Against the U.S. dollar, the loonie advanced to 1.4348 from yesterday's closing value of 1.4360.

Against the euro and the yen, the loonie edged up to 1.4932 and 109.58 from early lows of 1.4965 and 109.42, respectively.

If the loonie extends its uptrend, it is likely to find resistance around 0.87 against the aussie, 1.42 against the greenback, 1.48 against the euro and 111.00 against the yen.

CAD vs Yen (FX:CADJPY)
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CAD vs Yen (FX:CADJPY)
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