Copper futures slightly higher despite U.S. dollar recovery

Copper futures closed slightly positive overnight (Oct. 5) despite the rebound of the U.S. dollar.

  • Copper was up 1.05 cents, or 0.3%, at $3.505 per pound.

The copper contract rose only slightly despite the strength of the U.S. dollar. The dollar index against the six major currencies in a basket of currencies rose by 0.91% to 111.0740.

The appreciation of the dollar makes copper contracts priced in U.S. dollars more expensive for investors holding other currencies.

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