TORONTO, Nov 26 (Reuters) - The Canadian dollar slumped to its lowest level in nearly two months against its U.S. counterpart on Friday as news of a possibly new vaccine-resistant coronavirus variant spooked global financial markets. Global stocks (.WORLD) and oil, one of Canada"s major exports, tumbled as investors scurried to the safety of bonds, the yen and the Swiss franc. 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 "The potential for a fairly decent close on the week for the CAD has been obviated by the late-week volatility and leaves the CAD prone to a little more softness while markets remain concerned and fixated on the COVID situation," strategists at Scotiabank, including Shaun Osborne, said in a note. U.S. crude prices fell 5.4% to $74.17 a barrel, while the Canadian dollar was trading 0.9% lower at 1.2760 to the greenback, or 78.37 U.S. cents, the biggest decline among G10 currencies. The loonie touched its weakest intraday level since Sept. 29 at 1.2774. For the week, it was on track to lose 1%. Canadian government bond yields were lower across a steeper curve, with the 2-year rate tumbling 8.8 basis points to 0.972% and the 10-year rate down 3.5 basis points at 1.729%.