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Profit-taking sparked by firm US dollar weighs on copper
Copper prices fell on Wednesday as a firm dollar triggered profit-taking, but expectations of robust demand from the energy transition and new technologies along with concerns about tight supplies supported sentiment. A stronger U.S. currency makes dollar-priced commodities more expensive for holders of other currencies, which would subdue demand. This relationship is used by funds which trade using buy and sell signals from numerical models. Benchmark copper on the London Metal Exchange (LME) was down 1.5% at $9,876 a metric ton by 0948 GMT. Prices hit a two-year high at $10,208 last week, coming close to the record ... (full story)