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The Canadian dollar CADUSD weakened against the greenback on Wednesday, and the yield on benchmark government debt climbed.

The loonie was trading 0.1% lower at C$1.2877 to the greenback, or 77.66 U.S. cents, after trading in a range of 1.2855 to 1.2906.

Canadian government 10-year bond yields rose 3.8 basis points to 3.122%.

The yield on similar U.S. government benchmark debt rose to 3.0359%.

U.S. August crude futures fell $1.96 to settle at $102.26 a barrel on Wednesday.

Canada’s annual inflation rate accelerated to 8.1% in June, up from 7.7% in May, Statistics Canada said. Analysts polled by Reuters had expected an annual rate of 8.4%

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