November 10, 2017 / 2:51 PM / in a month

CANADA FX DEBT-C$ steady on oil's strength, weaker greenback

    * Canadian dollar at C$1.2689, or 78.81 U.S. cents
    * Loonie touches its strongest since Oct. 25 at C$1.2666
    * Bond prices lower across the yield curve
    * 10-year yield touches a 1-week high at 1.976 percent

    TORONTO, Nov 10 (Reuters) - The Canadian dollar held near a
two-week high against its U.S. counterpart on Friday, benefiting
from a recent rise in oil prices and a weakening of the
greenback this week.
    The U.S. dollar        stabilized against a basket of major
currencies but was set for its biggest weekly drop in a month on
disappointment that a landmark U.S. tax bill may be delayed
until 2019.             
    The price of oil, one of Canada's major exports, gained
support from continuing supply cuts and expectations that an
output deal would be extended at the end of the month.
            
    U.S. crude        was unchanged at $57.17 a barrel. Earlier
this week, it reached a more than two-year high of nearly $58.
    At 9:14 a.m. ET (1414 GMT), the Canadian dollar          was
little changed at C$1.2689 to the greenback, or 78.81 U.S.
cents.
    The currency's weakest level of the session was C$1.2694,
while it touched its strongest since Oct. 25 at C$1.2666.
    A planned meeting of leaders of the 11 countries in the
Trans Pacific Partnership to decide on the fate of the trade
pact did not take place on Friday, amid disagreements over how
to take it forward without the United States.             
    Canada, whose economy is the second-largest among the TPP-11
after Japan, has said it would not be rushed into a revived
deal. Like Mexico, its position is further complicated by
renegotiation of the North American Free Trade Agreement with
the United States.
    Canadian government bond prices were lower across much of
yield curve in sympathy with U.S. Treasuries. The two-year
           fell 2.5 Canadian cents to yield 1.465 percent, and
the 10-year             declined 27 Canadian cents to yield
1.970 percent.
    The 10-year yield touched its highest intraday since Nov. 3
at 1.976 percent.

 (Reporting by Fergal Smith; Editing by Lisa Von Ahn)
  
 

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