The Canadian dollar declined against its major counterparts in the European session on Monday.

The loonie dropped to 1.2932 against the greenback and 1.4728 against euro, off its early highs of 1.2872 and 1.4669, respectively.

The loonie reversed from its early highs of 88.67 against the yen and 0.9780 against the aussie, edging down to 88.25 and 0.9819, respectively.

The next possible support for the loonie is seen around 1.32 against the greenback, 86.00 against the yen, 1.51 against the euro and 1.01 against the aussie.

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