Copper rebounds from two-week low as dollar declines

Economies.com
2017-02-24 14:22PM UTC

Copper prices rose on Friday ahead of the weekend away from a two-week low, as the dollar tumbles against main currencies, underpinning demand on copper according to their inverse relation.
 
Copper last traded at $2.655 a pound, up from the opening of $2.640, with a session-high at $2.672, and a low at $2.640.
 
Copper's gains today comes as the dollar slides to a week low, underpinning copper futures, as demand weakens on the greenback following the Federal Reserve's bearish meeting minutes.
 
On the other hand, demand resumed on copper prices anew amid tensions in the markets, raising demand on alternative investments, specially commodities.
 
The dollar index, tracking the greenback against an array of rivals, rose to 100.92 from the opening of 100.94, with a session-high at 101.09, and a low at 100.65.

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