* Canadian dollar rises 0.1% against the greenback * Price of U.S. oil climbs nearly 9% * Loonie trades in a range of 1.3610 to 1.3710 * Canadian bond yields rise across the yield curve TORONTO, March 10 (Reuters) - The Canadian dollar edged higher against its U.S. counterpart on Tuesday as hopes for coordinated policy action to cushion the economic impact of coronavirus helped support stocks globally and the price of oil, one of Canada's biggest exports. Oil prices jumped a day after the biggest rout in nearly 30 years as investors eyed the possibility of economic stimulus and Russia signaled that talks with OPEC remained possible. U.S. crude oil futures were up nearly 9% at $33.92 a barrel. On Monday, U.S. President Donald Trump promised "major" steps to combat the virus outbreak and said he would discuss a payroll tax cut with congressional Republicans. At 9:16 a.m. (1316 GMT), the Canadian dollar was trading 0.1% higher at 1.3678 to the greenback, or 73.11 U.S. cents. The currency, which on Monday hit its weakest intraday level in nearly three years at 1.3760, traded in a range of 1.3610 to 1.3710. The loonie rose even as the U.S. dollar gained against a basket of major currencies, with the greenback rebounding after huge losses against the yen and the euro. Canada's federal budget may be delayed and the deficit likely will be higher than had been expected as oil prices slump and the coronavirus spreads, economists said on Monday. Canadian banks have increased oil and gas lending at about double the rate of total business loan growth over the past three quarters, raising the prospect of higher loan losses after Monday's oil price crash. Canadian government bond yields rose in sympathy with U.S. Treasuries, with the 10-year yield up 5.4 basis points at 0.583%. On Monday, the 10-year yield hit a record low at 0.233%. (Reporting by Fergal Smith; Editing by David Gregorio)
Our Standards: The Thomson Reuters Trust Principles.