The Magazine for Asian Investors
New York copper futures closed lower Tuesday (Sept. 20) as the strength of the dollar made the U.S. dollar-denominated copper contract more expensive and less attractive to investors with other currencies.
Copper fell 0.95 cents, or -0.3%, to $3.5030 per pound.
The U.S. dollar strengthened, supported by forecasts that the U.S. Federal Reserve (Fed) will raise interest rates to curb inflation. Investors are waiting for the outcome of the Fed meeting, which will be announced on Wednesday evening (U.S. time).