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Aluminium falls as dollar firms; Mideast war underpins weekly gain

From brecorder.com

Aluminium fell on Friday, snapping a three-day run of gains, as the dollar strengthened on fading prospects for more U.S. rate cuts, although shipping disruption in the war-hit Middle East kept the metal on course for a weekly rise. Benchmark three-month aluminium on the London Metal Exchange was down 1.7% at $3,458 per metric ton as of 1030 GMT. It was still set to end the week up 0.3% after hitting a nearly four-year high on Thursday, having notched a 10% leap last week. “The biggest moving part there is the dollar,” said Panmure Liberum analyst Tom Price. The greenback rose to a more than three-month high on ... (full story)

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  • Category: Fundamental Analysis