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CANADA FX DEBT-Canadian dollar rises ahead of key Bank of Canada surveys

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* Canadian dollar strengthens 0.2% against the greenback * Loonie trades in a range of 1.2838 to 1.2902 * Price of U.S. oil rises 1.2% * Canadian bond yields ease across curve TORONTO, July 4 (Reuters) - The Canadian dollar strengthened against its U.S. counterpart on Monday as oil prices rose and investors awaited business and consumer surveys by the Bank of Canada that could offer clues on the central bank's policy outlook. The price of oil, one of Canada's major exports, rose as and concerns of tight supply offset global recession fears. U.S. crude prices rose 1.2% to $109.73 a barrel, while the Canadian dollar was trading 0.2% higher at 1.2863 to the greenback, or 77.74 U.S. cents. The currency traded in a range of 1.2838 to 1.2902. Speculators have raised their bullish bets on the Canadian dollar, data from the U.S. Commodity Futures Trading Commission showed on Friday. As of June 28, net long positions had increased to 9,097 contracts from 4,105 in the prior week. The U.S. dollar fell against a basket of major currencies and world stocks rose on Monday in trade thinned by a U.S. holiday. The Bank of Canada is due to release its quarterly Business Outlook Survey and Canadian Survey of Consumer Expectations, including measures of inflation expectations, at 10:30 a.m. ET (1430 GMT). The risk of inflation becoming entrenched in Canada's economy is growing, say analysts, as surging prices for gas and other highly visible consumer items undercut efforts by the Bank of Canada to keep expectations for price increases in check. Money markets expect the BoC to raise interest rates by three-quarters of a percentage point at its next policy decision on July 13, which would be its biggest hike in 24 years. Canadian government bond yields were lower across the curve. The 10-year touched its lowest since June 7 at 3.162% before recovering to 3.195%, down 3 basis points on the day. (Reporting by Fergal Smith Editing by Chizu Nomiyama)