10/08/2012 04:11 EDT | Updated 12/08/2012 05:12 EST

Canada's Milos Raonic reaches career-high 14th on ATP rankings

Canada's Milos Raonic has reached a new career high, reaching No. 14 in the latest ATP Tour rankings.

Raonic moved up one spot in the rankings after reaching the final of the Japan Open on the weekend. He lost in three sets to Japan's Kei Nishikori, who improved to 15th.

Swiss star Roger Federer continues to hold on to top spot, with Serbia's Novak Djokovic second and Britain's Andy Murray third.

Rafael Nadal, who has missed several tournaments and the Olympics after tearing his patella tendon at Wimbledon in June, is fourth with fellow Spaniard David Ferrer rounding out the top 5.