The Canadian dollar weakened against most major currencies in the Asian session on Wednesday.

The Canadian dollar fell to more than a 5-week low of 86.44 against the yen, from yesterday's closing value of 87.10.

Against the euro and the U.S. dollar, the loonie dropped to 1.2698 and 1.4909 from yesterday's closing quotes of 1.2664 and 1.4875, respectively.

If the loonie extends its downtrend, it is likely to find support around 85.00 against the yen, 1.29 against the greenback and 1.50 against the euro.

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