Copper sheds over 1% as dollar continues to rebound

Copper futures slid nearly two percent away from January 16 highs as the dollar index rebounded from December 17, 2014 lows for the third straight session, amid a lack of data from the US, the world's largest economy. 

As of 02:09 GMT, copper futures due on May 15 fell 1.70% to $321.30 a pound from the opening of $326.85, while the dollar index rose 0.75% to 89.77 from the opening of 89.10. 

Now markets await Bank of England Governor Mark Carney's speech about leadership and values at Regent's University, in London, while he's expected to testify on inflation before the British Parliament later this week. 

Investors also await the Federal Reserve's minutes of the January 30-31 meeting, at which policymakers votes to hold interest rates unchanged between 1.25% and 1.5%. 

Markets in particular look forward to the Fed's March 20-21 meeting, the first under new Chair Jerome Powell, at which policymakers will release their three-year forecasts for inflation, unemployment, growth, and interest rates.