* C$ up at 86.64 U.S. cents; off 1.7 pct on the week

* Bonds advance as equities drift lower

* Light trading expected next week, focus on U.S. jobs (Adds details)

TORONTO, June 26 (Reuters) - The Canadian dollar finished higher on Friday, trimming gains against the U.S. currency as oil prices lost ground and market players looked to consolidate positions heading into the weekend.

Early action saw the currency boosted by firm commodity prices, while the greenback weakened on a revival in investors' thirst for riskier assets. The currency reached as high as C$1.1445 to the U.S. dollar, or 87.37 U.S. cents.

However, the currency gave up much of those gains as the price of oil, a key Canadian export, fell to around $69 a barrel. Equity markets also came off session highs, taking a bite out of risk appetite.

Still, the Canadian dollar finished at C$1.1542 to the U.S. dollar, or 86.64 U.S. cents, up from C$1.1562 to the U.S. dollar, or 86.49 U.S. cents, at Thursday's close.

"I just think the way that equities have been slowly drifting off, it's been a bit of a consolidation day. We've probably seen a good part of the range for this session," said Steve Butler, director of foreign exchange trading at Scotia Capital.

"We've had a couple of topsy-turvy days, but really no direction again this week."