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Copper tilts lower ahead of Federal Reserve decision
Copper prices fell on Wednesday, as the US dollar fell against most currencies and ahead of the Federal Reserve's rate decision later today.
The Federal Open Market Committee is wrapping up its meeting to discuss monetary policy and the latest economic developments amid the coronavirus crisis, and it's expected to maintain rates unchanged near zero.
The recovery and the reopening measures of the global economies is ought to lift consumption and demand levels for industrial metals such as copper.
The dollar index fell against a basket of currencies by 0.2% to 93.5 points as of 13:30 GMT, after it hit a high of 93.8 and a low of 93.4.
Copper September futures slipped less than 0.1% to $2.91 per pound as of 13:28 GMT, after hitting a session-high of $2.93 and a low of $2.90.
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