* Loonie trades in a range of 1.2585 to 1.2624
* Price of U.S. oil falls 0.6%
* Canada's 10-year yield touches a one-year high at 1.261%
By Fergal Smith
TORONTO, Feb 23 (Reuters) - The Canadian dollar was little changed against its U.S. counterpart on Tuesday, holding near its strongest level in nearly three years, as investor sentiment turned cautious and ahead of a speech by Bank of Canada Governor Tiff Macklem.
World shares .WORLD fell as a rally in commodity-related assets gave in to pressure on heavily weighed tech stocks and investors awaited reassurance from U.S. Federal Reserve Chair Jerome Powell on the path for monetary policy in United States. of Canada's Macklem is due to speak at 12:30 ET (1730 GMT) on the impact of the coronavirus crisis on the labor market.
"We'll be closely listening for any comments on consumer price pressures after StatsCan meaningfully revised up two of the three core measures, suggesting underlying price movements are hotter that first reported," economists at BMO Capital Markets, including Priscilla Thiagamoorthy, said in a note.
On Monday, Statistics Canada reversed methodological changes made ahead of its last release of the consumer price index report. The changes made the January data for some core measures of inflation, watched closely by the Bank of Canada, appear weaker. Canadian dollar CAD= was trading nearly unchanged at 1.2614 to the greenback, or 79.28 U.S. cents, having traded in a range of 1.2585 to 1.2624. On Monday, the loonie touched its strongest intraday level since April last year at 1.2576.
The price of oil, one of Canada's major exports, gave up some recent gains. U.S. crude CLc1 prices were down 0.6% at $61.32 a barrel.
Canadian government bond yields were higher across a steeper curve, with the 10-year CA10YT=RR up 2.5 basis points at 1.256%. Earlier in the session, it touched its highest level since last February at 1.261%.