* C$ at C$1.0115 vs US$, or 98.86 U.S. cents
* Makes strong gains against euro, yen
By Alastair Sharp
TORONTO, May 3 (Reuters) - The Canadian dollar was slightly weaker against its U.S. counterpart on Friday, as the greenback strengthened against most major currencies after data showed U.S. employment rose more than expected in April.
But the loonie, as Canada’s currency is colloquially known, strengthened sharply against the euro, knocking off almost a cent after the jobs data to trade around C$1.3175 versus the common currency.
“Positive momentum in the U.S. economy and labor market can also be seen as a good thing for Canada and our economy,” said Blake Jespersen, a managing director of foreign exchange sales at BMO Capital Markets.
The currency settled to trade at C$1.0115 to the greenback, or 98.86 U.S. cents, after an initial boost from the data. It closed on Thursday at C$1.0083.
“The Canadian dollar has weakened modestly after the number, but some of the other currencies have weakened quite a bit more,” Jespersen said.
The loonie also jumped against the Japanese yen, to its strongest level since mid-April.
Still, given the overall boost to the greenback by the strong jobs data for April and upward revisions for the two prior months, Jespersen said the loonie would likely slip another 20 to 30 basis points during the session.
Prices for Canadian government bonds were lower across the curve. The two-year bond was off 3 Canadian cents to yield 0.931 percent, while the benchmark 10-year bond fell 48 Canadian cents to yield 1.725 percent.