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* Canadian dollar dips 0.1% against the greenback * Loonie trades in a range of 1.2703 to 1.2746 * Price of U.S. oil falls 0.3% * Canadian bond yields ease across the curve TORONTO, Jan 13 (Reuters) – The Canadian dollar weakened against its U.S. counterpart on Wednesday as oil, one of Canada’s major exports, pulled back from an earlier 11-month high and the greenback broadly climbed. U.S. crude prices were down 0.3% at $53.04 a barrel as rising global COVID-19 cases took the shine off an earlier rally spurred by a bigger-than-expected drop in U.S. crude inventories. The U.S. dollar rose against a basket of major currencies as data showed U.S. consumer prices increased solidly in December amid a surge in the cost of gasoline. In Canada, producer prices rose 1.4% in December from November, following two months of decline, thanks to higher prices for lumber and energy products, Statistics Canada said in a flash estimate. The Canadian dollar was trading 0.1% lower at 1.2725 to the greenback, or 78.59 U.S. cents, having traded in a range of 1.2703 to 1.2746. Money markets see an increased chance of the Bank of Canada cutting interest rates closer to zero, […]
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