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(Adds strategist comment, market details, updates prices) * Loonie rises 0.1% against the greenback * Currency touches its strongest level since Jan. 27 at 1.2731 * Price of U.S. oil settles nearly 2% higher * Canada’s 10-year yield touches an 11-month high at 1.027% By Fergal Smith TORONTO, Feb 8 (Reuters) – The Canadian dollar edged up against its U.S. counterpart on Monday, adding to its gains from Friday, as oil prices rose to their highest level in more than a year and data showed speculators raising bullish bets on the currency. The loonie was trading 0.1% higher at 1.2738 to the greenback, or 78.49 U.S. cents, having touched its strongest level since Jan. 27 at 1.2731. It gained 0.6% on Friday despite data showing Canada lost far more jobs than expected in January, while it has climbed about 15% since March. As of Feb. 2, speculators had raised net long positions in the Canadian dollar to the most since last February, data from the U.S. Commodity Futures Trading Commission showed on Friday. "Rising oil and natural gas prices, along with other commodities appear to be giving the loonie a tailwind at the moment," said Colin Cieszynski, chief market […]
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