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The Canadian dollar was little changed against the greenback on Friday, holding near its weakest level in more than five weeks as oil prices fell and investors continued to assess data this week showing an acceleration in U.S. inflation.

The loonie was trading nearly unchanged at 1.2579 to the greenback, or 79.50 U.S. cents, after touching its weakest intraday level since Oct. 6 at 1.2604.

The currency was on track for its fourth straight weekly decline, with a loss of 1 per cent.

The price of oil , one of Canada’s major exports, fell 1.2 per cent to $80.64 a barrel as the U.S. dollar continued to firm on expectations that the Federal Reserve will bring forward an increase to interest rates in an effort to tame inflation.

The greenback was on track for its biggest weekly rise in five months.

The Canadian inflation report for October, due next Wednesday, could offer clues on the Bank of Canada’s policy outlook.

Canadian government bond yields eased across a flatter curve as the market reopened after Thursday’s Remembrance Day holiday.

The 10-year yield eased 2.5 basis points to 1.672 per cent, after on Wednesday touching its highest intraday level in nearly one week at 1.706 per cent.

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