* Canadian dollar weakens 0.1% against the greenback
* Trades in a range of 1.3470 to 1.3509
* Price of U.S. oil falls 0.2%
* 10-year yield rises 1.9 basis points to 3.357%
TORONTO, March 11 (Reuters) – The Canadian dollar edged
lower against its U.S. counterpart on Monday as the recent rally
in equity markets lost momentum ahead of a key U.S. inflation
report this week.
The loonie fell 0.1% lower to 1.3485 per U.S. dollar,
or 74.16 U.S. cents, after trading in a range of 1.3470 to
1.3509. On Friday, the currency touched its strongest intraday
level in four weeks at 1.3417.
“Canadian economic data will be light this week so the focus
will be on the U.S. inflation report,” said Tony Valente, senior
FX dealer at AscendantFX.
“I suspect a firm number will lend support to the USD this
week and should stop the one-sided trade. … The USD has been
sold (recently) on the back of a risk-on trade in…
