The Canadian dollar edged slightly higher against most of its major counterparts in early New York trading on Wednesday as traders are looking ahead of weekly petroleum inventory data from the U.S. The loonie advanced to 1.2291 against the greenback, 79.61 against the Japanese yen and 1.6613 against the euro by 8:40 am Eastern Time, from recent lows of 1.2358, 78.9 and 1.6678, respectively. As of now, the Canadian currency is quoted at 1.2308 against the buck, 79.53 versus the yen and 1.6616 against the euro.

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