(Removes incorrect trading range for the currency) * Canadian dollar falls 1% against the greenback * For the week, the loonie gains 0.1% * Price of U.S. oil rises 0.2% * Canadian bond yields dip across a flatter curve By Fergal Smith TORONTO, May 1 (Reuters) - The Canadian dollar weakened against its U.S. counterpart on Friday as stock markets fell and investors assessed the incoming Bank of Canada governor's stance on negative interest rates, with the loonie giving back almost all of this week's rally. At 11:46 a.m. (1546 GMT), the Canadian dollar was trading 1% lower at 1.4082 to the greenback, or 71.01 U.S. cents. The currency, which traded in a range of 1.3936 to 1.4103, was on track to rise 0.1% for the week. Canada named Tiff Macklem, a former senior deputy at the Bank of Canada, as its next central bank governor. He brings familiarity to the job as well as an interest in the transition to a green economy. "There has been buzz about his comments about negative rates. I think that was a coincidence though," said Greg Anderson, global head of foreign exchange strategy at BMO Capital Markets in New York. "I think that there were flows going through the market place that would have caused that move (lower in CAD) if there had not been a press conference," Anderson said. The Bank of Canada has slashed interest rates by 150 basis points since March to 0.25%, the level it sees as the current floor. Macklem told reporters that the central bank has "the possibility of using negative interest rates" in its framework of unconventional monetary tools but in the current situation he is "quite comfortable with the effective lower bound where it is." World stocks pulled back further after U.S. President Donald Trump's threat to impose new tariffs on China over the coronavirus crisis. Canada runs a current account deficit and is a major exporter of commodities, including oil, so the domestic economy tends to be dependent on the global flow of trade and capital. Other commodity-linked currencies, such as the Australian dollar , the New Zealand dollar and the Norwegian crown also lost ground. U.S. crude oil futures were up 0.2% at $18.87 a barrel as OPEC and its allies began a record output cut to tackle a supply glut weighing on the market due to the coronavirus crisis. Canadian bond yields edged lower across a flatter yield curve, with the 10-year down 1.5 basis points at 0.533%. (Reporting by Fergal Smith Editing by Chizu Nomiyama and Jonathan Oatis)
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