Copper Prices Fall as Dollar’s Rebound Damps Commodity Demand
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Copper futures in New York fell after the dollar rebounded, eroding demand for commodities as alternative investments.
The greenback gained as much as 0.4 percent against a basket of six major currencies after touching the lowest level in eight months. The Reuters/Jefferies CRB Index of 19 raw materials fell for the first time in seven sessions, led by declines in sugar, natural gas and corn. Yesterday, copper prices in London reached a 26-month high as inventories dropped.