* Canadian dollar falls 0.4% against the greenback
* Touches its weakest since April 2025 at 1.4217
* Price of oil declines 0.7%
* Bond yields ease across the curve
By Fergal Smith
TORONTO, June 23 (Reuters) - The Canadian dollar weakened to
a 14-month low against its U.S. counterpart on Tuesday as oil
prices fell and a drop in technology stocks bolstered safe-haven
demand for the greenback.
The loonie was trading 0.4% lower at 1.4214 per U.S.
dollar, or 70.35 U.S. cents, after touching its weakest intraday
level since April last year at 1.4217.
* "The loonie has been on the backfoot for several weeks
with well-documented reasoning of widening yield differentials
in favor of the USD, slowing growth, trade uncertainty or the
uneasy status quo and a mostly asymmetric risk response to the
Iran war," said Amo Sahota, director at Klarity FX in San
Francisco.
* "Today it feels like a bruising to an already beaten
currency with traders searching for safe haven as tech stocks
and chips struggle to hold on to their massive valuations,"
Sahota said.
* The Nasdaq and the S&P 500 fell to over one-week lows,
dragged down by sharp losses in semiconductor stocks as
investors braced for a more hawkish Federal Reserve and
scrutinized growing debt-funded AI spending.
* The safe-haven U.S. dollar rose against a basket of major
currencies, while the price of oil, one of Canada's major
exports, was trading 0.7% lower at $73.71 a barrel.
* Investors kept a close watch on crude flows through the
Strait of Hormuz following signs of progress in U.S.-Iran peace
talks.
* Bank of Canada Governor Tiff Macklem said the latest
inflation reading showed price increases were concentrated in
energy, but admitted that food inflation was a concern.
* "Comments today by BoC Macklem provide little to lean
towards CAD strength but do signal some relief on rising
inflation concerns," Sahota said.
* Data on Monday showed that Canada's annual inflation rate
rose more than expected to 3.2% in May but measures of
underlying inflation closely followed by the BoC were more
subdued.
* Canadian government bond yields moved lower across the
curve, with the 10-year down 2.7 basis points at
3.442%.