Canadian dollar weakens against U.S. dollar as benchmark yield climbs

On Wednesday, the Canadian dollar experienced a decline against the U.S. dollar, while the yield on benchmark Canadian government debt rose. The loonie was trading 0.3% lower at C$1.3313 to the greenback, equivalent to 75.11 U.S. cents, fluctuating between 1.3267 and 1.3322 during the trading session.

Simultaneously, the yield on Canadian government 10-year bonds increased by 1.7 basis points, reaching 3.62%. In comparison, the yield on similar U.S. government benchmark debt rose to 4.0695%.

Meanwhile, U.S. September crude futures recorded an increase of 51 cents, reaching $81.88 per barrel on Wednesday.