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CANADA FX DEBT-Canadian dollar notches 8-week high as U.S. CPI meets estimates


    * Canadian dollar strengthens 0.4% against the greenback
    * Touches its strongest level since Nov. 16 at 1.2513
    * Price of U.S. oil rises nearly 1%
    * Canadian bond yields trade mixed across the curve

    TORONTO, Jan 12 (Reuters) - The Canadian dollar strengthened
to its highest level in nearly two months against its U.S.
counterpart on Wednesday as oil prices rose and investors took
in stride data showing U.S. inflation rose strongly in December.
    The loonie        was trading 0.4% higher at 1.2518 to the
greenback, or 79.88 U.S. cents, after touching its strongest
intraday level since Nov. 16 at 1.2513.
    U.S. stock index futures extended gains and the U.S. dollar
       lost ground against a basket of major currencies after
consumer prices data came largely in line with expectations,
easing some concern about faster-than-expected policy tightening
by the Federal Reserve.             
    It follows gains for Wall Street on Tuesday as Fed Chair
Jerome Powell said it may take several months to make a decision
on running down the central bank's $9 trillion balance sheet.
            
    The price of oil, one of Canada's major exports, added to
recent gains on tight supply and easing concerns about the
potential hit to demand from the Omicron coronavirus variant.
U.S. crude        prices were up nearly 1% at $82.01 a barrel.
            
    On Tuesday, the Canadian dollar broke the neckline of a
head-and-shoulders trend reversal pattern at about 1.2600, which
was seen by some traders as a bullish signal for the currency.
    Quebec, Canada's second most populous province, is planning
to force adults refusing to get COVID-19 vaccinated to pay a
"health contribution" in a move likely to spur a debate about
individual rights and social responsibility.             
    Canadian government bond yields were mixed across the curve,
with the 10-year             down about half a basis point at
1.696%. On Monday, it touched its highest level in more than six
weeks at 1.753%.

 (Reporting by Fergal Smith; editing by Jonathan Oatis)
  



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