2 Min Read
* C$ lower vs US$ at C$0.9792, or $1.0212
* Canada April building permits plunge 21.1 pct
* Bond prices mixed (Repeats with links to bond, currency prices)
TORONTO, June 6 (Reuters) - Canada's dollar weakened against the U.S. currency on Monday as oil prices dropped and concerns lingered about the strength of the U.S. economy, which absorbs the majority of Canadian exports.
The price of U.S. crude oil was down more than 1 percent at $99.05 a barrel on concerns that high prices were eroding demand. [O/R]
Canada is the top oil exporter to the United States.
"There are concerns that the U.S. economy just can't maintain momentum at all," said David Watt, senior currency strategist at RBC Capital Markets.
A report on Friday showed U.S. non-farm payrolls rose far less than expected in May and jobless rate rose to 9.1 percent.
Adding to concerns about the outlook for North American growth, a report on Monday showed that the value of Canadian building permits plunged 21.1 percent in April, compared to an expected 6.0 percent decline. [ID:nN06254333]
At 9:02 a.m., the Canadian dollar CAD=D4 was at C$0.9792 to the U.S. dollar, or $1.0212, down from Friday's North American session close at C$0.9783, or $1.0222.
Canada's two-year bond CA2YT=RR was flat, with a yield of 1.433 percent, while the 10-year bond CA10YT=RR was down 3 Canadian cents to yield 2.993 percent. The 30 year bond CA30YT=RR was down 47 Canadian cents with a yield of 3.499. (Reporting by John McCrank; Editing by Jeffrey Hodgson)