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Copper rebounds on weaker dollar, China demand hopes

From brecorder.com

Copper prices snapped a three-day losing streak on Thursday, boosted by a weaker dollar and optimism that stimulus measures would boost demand in top metals consumer China. Three month copper on the London Metal Exchange rose 0.6% to $7,735 a tonne in official open-outcry trading. The dollar index dropped after Japan intervened in the currency market to shore up the battered yen for the first time since 1998. A weaker dollar supports commodities priced in the greenback by making them cheaper for buyers using other currencies. “A weaker dollar is definitely helpful, the question mark is how long that can be sustained ... (full story)

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  • Category: Fundamental Analysis