The Canadian dollar trimmed its early losses against most major counterparts in European trading on Monday.

The loonie was trading at 1.2524 against the greenback, 85.14 against the yen and 1.4371 against the euro, from its early low of 1.2559, 2-week low of 84.52 and an 11-day low of 1.4419, respectively.

If the loonie rises further, it may find resistance around 1.22 against the greenback, 88.00 against the yen and 1.40 against the euro.

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