TORONTO: The Canadian dollar weakened slightly against its US counterpart early on Wednesday, with investors bracing for clues about US President-elect Donald Trump's likely trade, tax and fiscal policy direction at a morning news conference.
The loonie, as the currency is colloquially known, has settled at the strong end of a recent range in the last few trading sessions.
At 8:49 a.m. ET (1349 GMT), the Canadian dollar was trading at C$1.3235 to the greenback, or 75.56 US cents, weaker than the Bank of Canada's official Tuesday close of C$1.3227, or 75.60 US cents.
The currency's strongest level of the session was C$1.3219, while its weakest was C$1.3255.
Canadian government bond prices were mostly higher across the maturity curve, with the two-year up half a Canadian cent to yield 0.75 percent and the benchmark 10-year adding 9 Canadian cents to yield 1.671 percent.
Prices for oil, a major Canadian export, rose for the first time in three days following news of Saudi supply cuts to Asia, but persistent doubt over output reductions and signs of rising shipments from other producers kept gains in check.
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