The Canadian dollar strengthened against most major currencies in the Asian session on Friday.

The Canadian dollar rose to more than a 16-year high of 111.75 against the yen, from yesterday's closing value of 111.58.

Against the U.S. dollar and the euro, the loonie edged up to 1.3476 and 1.4582 from early lows of 1.3495 and 1.4606, respectively.

If the loonie extends its uptrend, it is likely to find resistance around 112.00 against the yen, 1.33 against the greenback and 1.44 against the euro.

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