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Canadian dollar dips but fares better than most other G10 currencies

Published 2019-03-28, 10:04 a/m
© Reuters.  Canadian dollar dips but fares better than most other G10 currencies
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* Canadian dollar dips 0.1 percent against the greenback

* Price of U.S. oil falls 0.8 percent

* Canadian bond prices fall across the yield curve

TORONTO, March 28 (Reuters) - The Canadian dollar edged lower against its U.S. counterpart on Thursday as oil prices fell, but the loonie performed better than most other major currencies as the greenback broadly climbed.

The U.S. dollar .DXY rose as other currencies struggled, following more dovish soundings from central banks and renewed expectations that the European Central Bank will keep rates low for longer. price of oil, one of Canada's major exports, fell on Thursday after U.S. President Donald Trump called for the Organization of the Petroleum Exporting Countries (OPEC) to boost crude production to lower the price of the commodity.

U.S. crude oil futures CLc1 were down 0.8 percent at $58.95 a barrel.

At 9:48 a.m. (1348 GMT), the Canadian dollar CAD=D4 was trading 0.1 percent lower at 1.3425 to the greenback, or 74.49 U.S. cents. The currency, which touched on Monday a 17-day low at 1.3445, traded in a range of 1.3402 to 1.3439.

Still, the loonie matched the New Zealand dollar NZD= on Thursday for the smallest decline among G10 currencies.

Canadian government bond prices were lower across the yield curve, with the two-year CA2YT=RR down 4 Canadian cents to yield 1.48 percent and the 10-year CA10YT=RR was down 16 Canadian cents to yield 1.550 percent.

On Wednesday, the 10-year yield hit its lowest intraday since June 2017 at 1.508 percent.

Canada's gross domestic product data for January is due on Friday.

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