A Canadian dollar coin, commonly known as the "Loonie", is pictured in this illustration picture taken in Toronto January 23, 2015.
REUTERS/Mark Blinch/File Photo Acquire Licensing RightsSummary Canadian dollar weakens 0.1% against the greenbackTrades in a range of 1.3572 to 1.3623Price of U.S. oil settles 2.9% lower10-year yield eases 6.1 basis pointsTORONTO, Oct 11 (Reuters) - The Canadian dollar edged lower against its U.S. counterpart on Wednesday, giving back some recent gains, as oil prices fell and investors turned attention to a key U.S. inflation report.
On Tuesday, it touched its strongest intraday level since Oct. 2 at 1.3567, supported by a drop in bond yields globally and higher oil prices after conflict broke out over the weekend in the Middle East.
I think that's one of the reasons that CAD is a little weaker today," said Erik Bregar, director, FX & precious metals risk management at Silver Gold Bull.
U.S. crude oil futures settled 2.9% lower at $83.49 a barrel after top OPEC producer Saudi Arabia pledged to help stabilize the market.
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