The Canadian dollar weakened against the greenback on Monday, and the yield on benchmark government debt slipped.

The loonie was trading 0.1% lower at C$1.4249 to the greenback, or 70.18 U.S. cents, after trading in a range of 1.4218 to 1.4254.

Canadian government 10-year bond yields fell 1.8 basis points to 3.16%. The yield on similar U.S. government benchmark debt fell to 4.3671%.

U.S. January crude futures fell 49 cents to $70.8 a barrel on Monday.

Canadian housing starts in November rose more than expected to 262,400 units from a revised 242,200 units the previous month, the Canadian Mortgage and Housing Corporation (CMHC) said.

A survey of 11 economists polled by Reuters had forecast November housing starts rising to 245.1,000 units.