Copper advances to four-week high

Copper prices rose on Thursday to a four-week high as the dollar tumbled to a five-week trough against main currencies.
 
Copper last traded at $2.654 a pound, up from the opening price of $2.602, with an intraday high at $2.659, and a low at $2.601.
 
Copper's current surge comes on the back of strong commodity demand, while the dollar fell versus main rivals after U.S. President-elect Trump's speech yesterday.
 
Trump didn't mention his stimulus plans, which disappointed markets and made investors dump the greenback and U.S. stocks in favor of commodities as industrial performance improves.
 
The dollar index, measuring the greenback against an array of six major rivals, slumped to 101.09 from the opening of 101.60, with an intraday high at 101.79, and a five-week trough at 100.70, which comes after Trump's speech yesterday, intensifying the negative correction.