Copper slips as dollar rallies

Copper prices slipped on Monday, as the US dollar rallied against most major currencies, which weighs down on metals and commodities.

This comes amid continuing efforts to contain the coronavirus, with developing more promising vaccines to eliminate the pandemic.

Moderna company announced last month that it is working on a second vaccine to prevent the new Covid-19 strains.

The Guardian newspaper reported that a new virus called Nipah emerged in China, which is fast-spreading and could result in death.

The dollar index rose against a basket of major currencies by 0.2% to 90.8 points as of 14:38 GMT, after hitting a high of 90.9 points and a low of 90.5 points.

Copper March futures fell 0.4% to $3.54 per pound as of 14:35 GMT, after hitting a high of $3.58 and a low of $3.52.