* Canadian dollar falls 0.1% against the greenback
* Posts sixth straight daily decline
* BoC minutes show bank feels it could be patient on
rates
* Canadian bond yields edge lower across the curve
By Fergal Smith
TORONTO, May 13 (Reuters) - The Canadian dollar edged
lower for a sixth straight day against its U.S. counterpart on
Wednesday, as the greenback posted broad-based gains and minutes
from the Bank of Canada's latest policy decision showed the
central bank was content to remain on the sidelines.
The loonie was trading 0.1% lower at 1.3705 per U.S.
dollar, or 72.97 U.S. cents, after moving in a range of 1.3685
to 1.3718.
The BoC's Governing Council felt it could afford to be patient
and hold interest rates at 2.25% ahead of its April 29
announcement, while acknowledging the situation might change
quickly.
"The Bank of Canada is comfortable standing pat for now amid
heightened uncertainty on both sides of the outlook," Benjamin
Reitzes, Canadian rates & macro strategist at BMO Capital
Markets, said in a note.
"We'll likely need to see a few inflation reports for
policymakers to be convinced that price pressures are broadening
... while the rise in the unemployment rate suggests the last
thing the economy needs is higher policy rates."
Data on Friday showed that Canada's economy lost 17,700 jobs
in April and the unemployment rate rose to a six-month high of
6.9%, indicating continued weakness in a labor market that has
struggled in the face of trade uncertainty.
Still, investors are betting that the Bank of Canada will
raise interest rates twice by December as the recent surge in
oil prices boosts the inflation outlook.
The price of oil settled 1.1% lower at $101.02 a barrel, giving
back some recent gains. Oil is one of Canada's major exports.
The U.S. dollar rose against a basket of major
currencies, supported by the latest hot U.S. inflation reading.
Canadian government bond yields edged lower across a flatter
curve. The 10-year was down 1.5 basis points at
3.577%, after earlier touching an eight-day high at 3.610%.