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Copper futures end lower despite weak dollar

29 Jul 2021 Evaluate

Copper futures ended lower on Wednesday, despite weaker dollar which making dollar priced metals cheaper and more appealing to holders of other currencies. Meanwhile, US Federal Reserve said it would leave interest rates unchanged near zero and retain its full range of tools to support the economic recovery during the corona-virus pandemic.

Copper futures for September delivery lost 1.4 percent or $0.0625 to settle at $4.4820 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down 0.74 percent at $9,686 a ton.