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Copper rises as US dollar weakens on Fed rate slowdown prospect

From nasdaq.com

Copper prices gained on Thursday, helped by a weaker U.S. dollar after the Federal Reserve's November meeting minutes showed interest rate hikes may slow soon. Three-month copper on the London Metal Exchange was up 0.8% at $8,072.50 a tonne by 0201 GMT, while the most-traded December copper contract on the Shanghai Futures Exchange rose 0.2% to 65,060 yuan ($9,111.92) a tonne. A "substantial majority" of policymakers agreed it would "likely soon be appropriate" to slow the pace of interest rate hikes, according to the Fed minutes from its latest meeting. The dollar slipped to a one-week low against its rivals, ... (full story)

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  • Category: Fundamental Analysis