The Canadian dollar edged higher to 81.18 against the Japanese yen at 8:30 pm ET. This set the highest point for the pair since November 12, 2008. Thereafter, the loonie-yen pair reversed its direction and is currently trading at 80.48, compared to Thursday's closing value of 80.48. If the pair falls further, 78.7 is seen as the next target level.

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