June 9, 2020 / 1:35 PM / a month ago

CANADA FX DEBT-Canadian dollar pares some recent gains as equity rally stalls

    * Canadian dollar falls 0.5% against greenback
    * Price of U.S. oil decreases 0.6%
    * Canadian bond yields decline across flatter curve

    TORONTO, June 9 (Reuters) - The Canadian dollar weakened
against its U.S. counterpart on Tuesday, giving back some of its
recent gains as oil prices fell and the rally in stocks lost
momentum.
    The loonie        was trading 0.5% lower at 1.3443 to the
greenback, or 74.39 U.S. cents. The currency, which notched on
Monday a three-month high at 1.3352, traded in a range of 1.3359
to 1.3487.
    Global shares          fell as investors' focus shifted to
the Federal Reserve's two-day policy meeting              that
began on Tuesday. Stocks and commodity-linked currencies, such
as the Canadian dollar, have rallied since March, helped by
hopes of a quick rebound in the global economy from the
coronavirus pandemic.
    The price of oil, one of Canada's major exports was weighed
down by a stronger U.S. dollar        and oversupply concerns
after it was announced that a trio of Gulf producers would end
voluntary output cuts. U.S. crude        prices were down 0.6%
at $37.98 a barrel.             
    Canadian government bond yields were lower across a flatter
curve in sympathy with U.S. Treasuries.
    The 10-year yield             was down 3.3 basis points at
0.645%. On Friday, it touched its highest intraday level since
mid-April at 0.768%.

 (Reporting by Fergal Smith
Editing by Paul Simao)
  
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