The Canadian dollar weakened against the greenback on Wednesday, and the yield on benchmark government debt climbed.

The loonie FX_IDC:USDCAD was trading 0.3% lower at C$1.423 to the greenback, or 70.27 U.S. cents, after trading in a range of 1.4195 to 1.4234.

Canadian government 10-year bond yields (CA10YT=RR) rose 0.8 basis points to 3.382%. The yield on similar U.S. government benchmark debt rose to 4.4911%.

U.S. August crude NYMEX:CL1! futures fell 69 cents to $68.81 a barrel on Wednesday.