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

The Canadian dollar fell to nearly a 4-week low of 1.2502 against the U.S. dollar, from yesterday's closing value of 1.2487.

Against the euro and the yen, the loonie edged down to 1.3924 and 97.94 from yesterday's closing quotes of 1.3910 and 98.00, respectively.

If the loonie extends its downtrend, it is likely to find support around 1.27 against the greenback, 1.42 against the euro and 96.00 against the yen.

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