Copper plunges 2% as dollar strengthens

Copper futures shed nearly two percent as the dollar index hit the highest since July 20, ahead of US labor data and speeches by Federal Reserve Governor Randal Quarles and Chair Janet Yellen. 

As of 03:50 GMT, copper futures due on December slid 1.62% to $310.65 a pound from the opening of $315.75, while the dollar index added 0.28% to 95.02 from the opening of 94.76. 

Now markets await the JOLTS Job Openings survey, expected to drop to 5.98 million in September from 6.08 million in August, while Federal Reserve Governor Randal Quarles is due to speak at The Clearing House Annual Conference, in New York.

Federal Reserve Chair Janet Yellen is due to deliver acceptance remarks at the presentation of the Paul H. Douglas Award for Ethics in Government, in Washington DC, as markets await any clues on the future of interest rates and the chances of a third hike in December.