* Loonie weakens 0.1% against the U.S. dollar
* Trades in a range of 1.3726 to 1.3786
* 10-year yield touches a 5-month high
TORONTO, April 15 (Reuters) – The Canadian dollar
weakened against its U.S. counterpart on Monday, approaching a
five-month low, ahead of domestic inflation data that could
offer clues on the timing of Bank of Canada interest rate cuts.
The loonie was trading 0.1% lower at 1.3785 per U.S.
dollar, or 72.54 U.S. cents, after trading in a range of 1.3726
to 1.3786. On Friday, it touched its weakest intraday level
since Nov. 14 at 1.3787.
“The CAD is liable to remain soft unless or until there are
some significant changes in U.S. or Canadian monetary policy
dynamics,” Shaun Osborne, chief currency strategist at
Scotiabank, said in a note.
Bank of Canada Governor Tiff Macklem has said a rate cut in
June was possible if a recent cooling trend in inflation is
sustained. Canada’s…
