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* Canadian dollar rises 0.1% against the greenback
* Loonie touches its strongest since May 22 at 1.3415
* Price of U.S. oil falls 0.7%
* Canadian bond prices fall across the yield curve
TORONTO, June 4 (Reuters) - The Canadian dollar strengthened to its highest level in nearly two weeks against its U.S. counterpart on Tuesday as speculation that the Federal Reserve would soon cut interest rates weighed on the greenback.
At 10:03 a.m. (1403 GMT), the Canadian dollar was
trading 0.1% higher at 1.3422 to the greenback, or 74.50 U.S. cents. The currency touched its strongest level since May 22 at 1.3415.
The U.S. dollar touched its lowest level since
mid-April before turning higher against a basket of major currencies. The Federal Reserve will respond "as appropriate" to the risks posed by a global trade war and other recent developments, Fed Chairman Jerome Powell said on Tuesday in remarks that seemed to open the door to the possibility of a rate cut.
Mexican Foreign Minister Marcelo Ebrard said he expects to find mutual understanding at talks with U.S. officials over immigration amid a diplomatic push to head off a punitive tariff threatened by U.S. President Donald Trump. Mexico and Canada have said they would proceed with plans to ratify a new continental trade pact despite the threat of tariffs on Mexico. The price of oil, one of Canada's major exports, fell to its lowest since January on signs that an economic slowdown is starting to dent energy demand and as Russia's top oil producer said it opposed extending joint cuts with OPEC until the end of
the year. U.S. crude oil futures were down 0.7% at $52.87
a barrel. Canadian government bond prices were lower across the yield curve in sympathy with U.S. Treasuries. The two-year fell 5 Canadian cents to yield 1.386% and the 10-year declined 33 Canadian cents to yield 1.453%. On Monday, the 10-year yield hit its lowest since June 2017 at 1.419%. Canada's trade data for April is due on Thursday and the May jobs report is due on Friday.
(Reporting by Fergal Smith Editing by Bill Trott)