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(Adds analyst quote and details throughout; updates prices) * Canadian dollar touches its strongest since Jan. 22 at 1.2667 * Price of U.S. oil settles 0.6% higher * Canada’s 10-year yield steadies at about 1% By Fergal Smith TORONTO, Feb 10 (Reuters) – The Canadian dollar was unchanged against its U.S. counterpart on Wednesday, holding near its strongest level in nearly three weeks as oil extended its winning streak and the greenback broadly declined. The loonie was unchanged at 1.2693 to the greenback, or 78.78 U.S. cents, having touched its strongest intraday level since Jan. 22 at 1.2667. "USD-CAD continues to be driven by ever higher oil prices, and an abrupt turnaround in the greenback’s fortunes since late last week," Ronald Simpson, managing director global currency analysis at Action Economics, said in a note. The price of oil, one of Canada’s major exports, rose for a ninth day, its longest winning streak in two years, supported by producer supply cuts and hopes that vaccine rollouts will drive a recovery in demand. U.S. crude oil futures settled 0.6% higher at $58.68 a barrel, while the U.S. dollar fell to a two-week low against a basket of major currencies as data […]
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