Copper rebounds from three-month trough

Copper prices rose on Thursday away from a three-month low after the dollar gave up ground, while the mining company Rio Tinto cut its targets for copper production. 

Copper last traded at $2.533 a pound, up from the opening of $2.524, with an intraday high at $2.554, and a low at $2.505. 

Copper's rise comes after the dollar declined anew today against a basket of currencies to a three-week trough, after U.S. unemployment claims rose past expectations last week, hurting the greenback. 

Australian Rio Tinto cuts its target for copper production after a strike in a copper mine in Chile, while another mine in Indonesia was still closed, according to the production quarterly report for the company, in turn underpinning prices today.