September 27, 2018 / 1:30 PM / 3 months ago

CANADA FX DEBT-C$ hits 2-week low as Trump attacks slow pace of NAFTA talks

    * Canadian dollar falls 0.4 percent against greenback
    * Loonie touches its weakest level since Sept. 11 at
C$1.3083
    * Price of U.S. oil rises nearly 1 percent 
    * Canadian bond prices trade mixed across the yield curve

    TORONTO, Sept 27 (Reuters) - The Canadian dollar weakened to
its lowest in more than two weeks against its advancing U.S.
counterpart on Thursday after U.S. President Donald Trump
blasted Canada over the slow pace of talks over the NAFTA trade
deal.
    Trump said on Wednesday he was unhappy he had rejected
Canadian Prime Minister Justin Trudeau's request for a
one-on-one meeting and repeated a threat to impose tariffs on
Canadian autos.              Trudeau spokeswoman Chantal Gagnon
said: "No meeting was requested. We don't have any comment
beyond that."
    The U.S. dollar        also climbed against a basket of six
major currencies one day after the U.S. Federal Reserve raised
interest rates for the third time this year, and as the euro was
weighed down by media reports that an Italian budget meeting was
likely to be delayed.             
    The Bank of Canada has also been raising rates this year.
Its governor, Stephen Poloz, could provide clues on prospects of
another hike in October when he speaks later today. The central
bank will release his prepared remarks at 5:45 p.m. (2145 GMT).
    At 9:12 a.m. (1312 GMT), the Canadian dollar          was
trading 0.4 percent lower at C$1.3069 to the greenback, or 76.52
U.S. cents. It touched its weakest since Sept. 11 at C$1.3083. 
    The price of oil, one of Canada's major exports, was
supported by the prospect of a shortfall in global supply once
U.S. sanctions against major crude exporter Iran come into force
in just five weeks' time.             
    U.S. crude        prices were up nearly 1 percent at $72.25
a barrel.    
    Canadian government bond prices were mixed across the yield
curve, with the 10-year             falling 3 Canadian cents to
yield 2.420 percent. The 10-year yield touched its highest in
more than four months on Tuesday at 2.472 percent.
    Canadian average weekly earnings rose 3.0 percent
year-over-year in July. Gross domestic product data for July is
due on Friday.

 (Reporting by Fergal Smith; Editing by Bernadette Baum)
  
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