The Canadian dollar that strengthened against its major counterparts in early European trading on Monday pared gains shortly. The loonie that rose to a new multi-month high of 82.92 against the yen and a 12-day high of 1.2228 against the greenback by 4:55 am ET edged lower to 81.9 and 1.2332, respectively after 3-hours. The Canadian dollar also eased to 1.6667 against the euro by this time from previous high of 1.6555 hit around 5:20 am.

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