Copper Drops on Concern U.S. Fed Will Scale Back Stimulus
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Copper futures fell for the second time in three sessions amid concern that U.S. policy makers gathering this week will start to scale back stimulus measures.
The Federal Open Market Committee starts a two-day meeting tomorrow. Investors have been weighing data on the economy to determine whether growth is strong enough to prompt the Fed to reduce debt purchases. New York area factory sentiment rose to a three-month high, and confidence among U.S. homebuilders surged in June to the highest in seven years, reports showed today.