toronto nov 26 reuters  the canadian dollar on friday posted its biggest decline in more than three months against its us counterpart as news of a new possibly vaccineresistant coronavirus variant spooked global financial markets global stocks world and oil one of canadas major exports tumbled as investors worried that the variant could dampen economic growth read more scientists say the variant detected in south africa botswana and hong kong has an unusual combination of mutations may be able to evade immune responses and could be more transmissible read more canada is falling in conjunction with the rest of the commodity complex said michael goshko corporate risk manager at western union business solutions thats a move on shoot first and ask questions later together with thin markets market participants noted the drop on wall street was likely exaggerated by the thin volume during the shortened postthanksgiving holiday session read more us crude prices settled down 131 at 6815 a barrel while the canadian dollar was trading 09 lower at 12760 to the greenback or 7837 us cents its biggest decline since aug 19 it touched its weakest intraday level since sept 22 at 12799 for the week the currency was down 1 its sixth straight weekly decline thats the longest losing streak since august 2019 the amount of tightening expected by the bank of canada next year fell by about 16 basis points to 122 basis points money market data showed while canadian government bond yields tumbled across the curve tracking the move in us treasuries the 10year rate touched its lowest level since nov 9 at 1577 before recovering to 1582 down 182 basis points on the day reporting by fergal smith editing by paul simao and alex richardson