Copper rises on falling dollar amid global economic optimism

Copper prices rose on Thursday, as the US dollar fell against most majors amid optimism about the global economy.

The International Monetary Fund raised its projections for the global GDP to grow by 6% in 2021.

Countries around the world are ramping up their efforts to combat the Covid-19 pandemic with largescale vaccination campaigns and tight lockdown measures.

The IMF also estimated the US economy to grow to 6.4% in 2021 based on the Federal Reserve's forecasts.

The dollar index slipped against a basket of currencies by 0.3% to 92.1 points as of 13:32 GMT, after it hit a high of 92.4 points and a low of 92.1 points.

Copper May futures rose 0.6% to $4.07 per pound as of 13:30 GMT, after hitting a high of $4.09 and a low of $4.04