The Canadian dollar gained ground against its most major opponents in early European deals on Wednesday.

The loonie that closed yesterday's trading at 86.75 versus the yen climbed to a weekly high of 87.08.

The loonie hit a 6-day high of 1.4888 against the euro, off its early low of 1.4986.

The loonie reversed from an early low of 1.2770 against the greenback, edging up to 1.2733.

If the loonie rises further, it may find resistance around 89.00 against the yen, 1.47 against the euro and 1.25 against the greenback.

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