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Message : Required fields TORONTO (Reuters) - The Canadian dollar edged lower against its U.S. counterpart on Thursday, pulling back from an earlier one-week high as a sell-off on Wall Street driven by higher bond yields offset surging oil prices. The safe-haven U.S. dollar rallied against a basket of major currencies and Wall Street slumped after remarks from Federal Reserve Chair Jerome Powell disappointed investors worried about rising longer-term U.S. bond yields. Canada runs a current account deficit and is a major producer of commodities, including oil, so the loonie tends to be sen...

high and investors shrugged off data showing Canada lost far more jobs than expected in January, with the loonie ending a three-week run of weekly declines. The loonie was trading 0.5% higher at 1.2766 to the greenback, or 78.33 U.S. cents, having traded in a range of 1.2765 to 1.2832. U.S. dollar against a basket of major currencies. “The bull market in commodities is a nice tailwind for the Canadian dollar,” said Adam Button, chief currency analyst at ForexLive. as a global economic recovery takes hold, and the gains could accelerate if investors perceive the Bank of Canada is prepari...