Copper prices jump as dollar adds to losses

Copper prices rose on Tuesday to a three-week high as the dollar kept falling against main currencies, underpinning demand on commodities according to their inverse relation with the dollar.
 
Copper last traded at $2.168 a pound, up from the opening price of $2.537, with an intraday high at $2.623, and a low at $2.530.
 
Copper's rise comes amid mounting demand on commodities since the start of the year as the dollar gave up ground on profit-taking, opening the door for commodities to recover.
 
On the other hand, global stocks started falling on profit-taking after surging to record highs recently, raising demand on alternative investments like industrial commodities.
 
The dollar index, measuring the greenback against six major peers, inched up to 101.86 from the opening of 101.85, with an intraday high at 102.07, and a low at 101.49, after the dollar index fell to a three-week low last week at 101.27.