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Canadian dollar gains 0.2% against the greenback
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Current account deficit widens in fourth quarter
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Price of U.S. oil falls 1.4%
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2-year yield touches a 15-year high at 4.340%
TORONTO, Feb 27 (Reuters) - The Canadian dollar strengthened against its U.S. counterpart on Monday, clawing back some recent declines, as a selloff in equity markets lost some momentum and ahead of data this week that could offer clues on the strength of the domestic economy. The loonie was up 0.2% at 1.3580 to the greenback, or 73.64 U.S. cents, after trading in a range of 1.3559 to 1.3624. On Friday, it touched a seven-week low at 1.3665. Global shares rebounded from a one-month low and the U.S. dollar gave back some recent gains against a basket of major currencies after data last week forced investors to prepare for higher interest rates in the United States and Europe. Canadian gross domestic product data for the fourth quarter is due on Tuesday. It is expected to show that the economy grew at an annualized rate of 1.5%, which would be slightly faster than the 1.3% pace the Bank of Canada has projected. Data on Monday showed that Canada's current account deficit widened to C$10.6 billion ($7.8 billion) in the fourth quarter from an upwardly revised C$8.4 billion deficit in the third quarter. One of Canada's major exports is oil . It was trading 1.4% lower at $75.25 a barrel despite supply concerns after Russia halted exports to Poland via a key pipeline. Canadian government bond yields were mixed across the curve. The 2-year touched its highest level since October 2007 at 4.340% before dipping to 4.280%, down about half a basis point on the day. (Reporting by Fergal Smith Editing by Bernadette Baum)
