TORONTO, Feb 12 (Reuters) - The Canadian dollar weakened against its U.S. counterpart on Thursday as equity and commodity markets fell, while a U.S. lawmaker vote against tariffs on Canadian goods had little impact.
The loonie was trading 0.3% lower at 1.3620 per U.S. dollar, or 73.42 U.S. cents, after moving in a range of 1.3556 to 1.3635. Still, the currency has gained 0.8% since the start of the year.
"With this risk-off move that we're seeing in the afternoon, the U.S. dollar is stronger across the board and the loonie is one of the losers," said Darren Richardson, chief operating officer at Richardson International Currency Exchange Inc.
U.S. stock indexes fell on a renewed selloff in software and technology shares, while strong labor market data tempered expectations for a Federal Reserve interest rate cut.
The price of oil, one of Canada's major exports, was down 3% at $62.69 a barrel as the International Energy Agency lowered its global oil demand forecast for 2026.
The U.S. House of Representatives on Wednesday narrowly backed a measure disapproving of President Donald Trump's tariffs on Canada.
The resolution stands a good chance of passage in the Senate but is unlikely to become law, as it would take two-thirds majorities in both chambers to overcome an expected Trump veto.
"The market has shrugged off the vote to remove the tariffs," Richardson said.
Canadian bond yields moved lower across a flatter curve, tracking moves in U.S. Treasuries. The 10-year was down 4.7 basis points at 3.293%, marking its lowest level since December 5.
Reporting by Fergal Smith; Editing by Nia Williams
