The Canadian dollar strengthened against its most major counterparts in early European deals on Wednesday, after the Bank of Canada Governor Stephen Poloz sounded optimistic on domestic economy and said previous rate cuts "have done their job."

Speaking to CNBC, Poloz said that Canadian economic growth is likely moderate in the coming months, although it still remain "above potential."

"We do think it's going to moderate from there, not to slow down dramatically but to be more normal on pace, but still above potential."

Poloz remarked that rates remain extraordinarily low and that previous rate cuts have worked well.

Meanwhile, Asian stocks are mostly lower as the U.S. Senate's move to delay a vote on healthcare bill until after next week's 4 July holiday rekindled U.S. policy worries.

A massive cyberattack has hit Europe, spreading to U.S. and Asia, affecting businesses and government systems with ransom demands. The new ransomware attack, in a possible reprise of a widespread WannaCry assault in May, is said to be caused by the virus linked to malware called Petrwrap or Petya.

The loonie has been trading in a positive territory in the Asian session, with the exception of the aussie.

The loonie advanced to 85.57 against the yen, its strongest since March 14. The loonie is likely to find resistance around the 87.00 mark.

Survey data from Shoko Chukin Bank showed that Japan's small business confidence improved for the second straight month in June, though slightly.

The small business confidence rose to 49.2 in June from 48.9 in the previous month. In April, the reading was 48.6.

The loonie appreciated to 1.3129 against the greenback, a level not seen since February 27. Continuation of the loonie's uptrend may see it challenging resistance around the 1.30 region.

The loonie that ended Tuesday's deals at 1.0010 against the aussie climbed to a 5-day high of 0.9975. If the loonie extends rise, 0.98 is possibly seen as its next resistance level.

On the flip side, the loonie fell to 1.4970 against the euro, compared to 1.4964 hit late New York Tuesday. The next possible support for the loonie is seen around the 1.51 level.

Figures from Destatis showed that Germany's import price inflation eased at a faster-than-expected pace in May after remaining stable in the prior month.

Import prices climbed 4.1 percent year-over-year in May, slower than the 6.1 percent steady rate of increase in April. Economists had expected the inflation to moderate to 4.6 percent.

Looking ahead, U.S. advance goods trade balance, wholesale inventories and pending home sales for May are due in the New York session.

At 9:30 am ET, the European Central Bank President Mario Draghi speaks at the ECB forum in Central Bank in Portugal along with the Bank of Canada Governor Stephen Poloz, Bank of England Governor Mark Carney and the Bank of Japan Governor Haruhiko Kuroda.

CAD vs Yen (FX:CADJPY)
FXチャート
から 2 2024 まで 3 2024 CAD vs Yenのチャートをもっと見るにはこちらをクリック
CAD vs Yen (FX:CADJPY)
FXチャート
から 3 2023 まで 3 2024 CAD vs Yenのチャートをもっと見るにはこちらをクリック