The Canadian dollar trimmed its early gains against its major rivals in the European session on Monday.

The loonie eased to 1.2773 against the greenback and 0.9789 against the aussie, from its early highs of 1.2742 and 0.9758, respectively.

The loonie retreated to 89.32 against the yen and 1.4810 against the euro, from its previous near a 2-week high of 89.81 and more than a 2-week high of 1.4774, respectively.

If the loonie weakens further, it may find support around 1.29 against the greenback, 88.00 against the yen, 0.99 against the aussie and 1.49 against the euro.

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