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Copper futures end higher on weak dollar

22 Aug 2024 Evaluate
Copper futures ended higher on Wednesday as the US dollar weakened against other major currencies after minutes of the most recent meeting of the US Federal Reserve reinforced hopes of an interest rate cut coming soon. Meanwhile, investors’ focus will be on the US Fed chairman's speech at Jackson Hole Symposium for further cues on the Federal Reserve's rate cut trajectory. Moreover, easing of geopolitical tensions in the Middle East has also supported prices.

Copper futures for September delivery gained $0.0315 to settle at $4.19 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up by 0.61 percent at $9,260 a ton.