* Canadian dollar weakens 0.2% against the greenback
* Loonie touches its weakest since last Tuesday at 1.2387
* Price of U.S. oil rises 1%
* Canadian bond yields rise across a steeper curve
TORONTO, June 29 (Reuters) - The Canadian dollar weakened on
Tuesday for a second day against its broadly stronger U.S.
counterpart, as investors weighed the potential impact of new
coronavirus outbreaks in Asia on global economic recovery.
The loonie was trading 0.2% lower at 1.2364 to the
greenback, or 80.88 U.S. cents, after touching its weakest
intraday level since last Tuesday at 1.2387.
The safe-haven U.S. dollar rallied as Australia and some
countries in Asia reimposed lockdowns to contain the spread of
the highly infectious Delta variant of the virus.
Oil reversed earlier losses, rising 1% to $73.55 a
barrel, but copper , seen as a gauge of global financial
health, fell for a fourth day. Canada is a major producer of
both commodities.
Canadian GDP data for April is due on Wednesday and the U.S.
nonfarm payroll report is due on Friday.
The U.S. data could offer clues on the Federal Reserve's
policy outlook. The U.S. central bank rattled markets earlier
this month, shifting to more hawkish guidance.
Canadian government bond yields were higher across a steeper
curve, tracking the move in U.S. Treasuries. The 10-year
rose 2.3 basis points to 1.439%.
(Reporting by Fergal Smith; editing by Jonathan Oatis)
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