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* Loonie trades in a range of 1.2751 to 1.2783 * Price of U.S. oil increases 1.1% * Canada’s 10-year yield touches an 11-month high at 1.026% TORONTO, Feb 8 (Reuters) – The Canadian dollar was little changed against its U.S. counterpart on Monday, with the loonie holding on to Friday’s gains as oil prices rose and data showed speculators have raised bullish bets on the currency to a one-year high. The price of oil, one of Canada’s major exports, rose to its highest in just over a year, boosted by supply cuts among key producers and hopes for further U.S. economic stimulus measures that can boost demand. U.S. crude prices were up 1.1% at $57.49 a barrel, while world shares hit a record high. Shares rose even as South Africa said it had halted the rollout of AstraZeneca’s vaccine. The Canadian dollar was trading nearly unchanged at 1.2754 to the greenback, or 78.41 U.S. cents, having traded in a range of 1.2751 to 1.2783. It gained 0.6% on Friday despite data showing Canada lost far more jobs than expected in January, while it has climbed nearly 15% since March. The loonie is expected to rally further over the […]
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