By Fergal Smith

TORONTO, April 23 (Reuters) - The Canadian dollar weakened to a near one-week low against its U.S. counterpart on Wednesday as oil prices fell and the greenback clawed back some of its recent broad-based declines.

The loonie CAD= was trading 0.5% lower at 1.3887 per U.S. dollar, or 72.01 U.S. cents, after touching its weakest intraday level since last Thursday at 1.3904.

"It's clearly a U.S. dollar move and that could be related to somewhat of a more conciliatory tone that the Trump administration has taken with respect to international linkages," said Bipan Rai, head of ETF and structured solutions strategy at BMO Global Asset Management.

"We're starting to see the market participants that are short the dollar take profit a little bit here."

The U.S. dollar climbed 0.9% against a basket of major currencies and Wall Street rallied as the Trump administration signaled openness to de-escalating a trade war.

U.S. President Donald Trump also backed away from threats to fire the head of the Federal Reserve, adding to support for the American currency.

The price of oil, one of Canada's major exports, fell 2.2% to $62.27 a barrel as sources said OPEC+ would consider accelerating its oil output increases in June.

An unusual consensus around energy policy has emerged in the campaign ahead of Canada's Monday election, with the two main candidates both promising to fast-track energy projects to diversify oil exports away from the United States.

Canadian government bond yields moved higher across the curve, tracking moves in U.S. Treasuries. The 10-year CA10YT=RR was up 5.7 basis points at 3.251%.

(Reporting by Fergal SmithEditing by Rod Nickel)

((fergal.smith@thomsonreuters.com; +1 647 480 7446;))