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Copper hits 3-month lows, focus on demand and US rates
LONDON: Copper prices dropped to their lowest in more than three months on Thursday as the market fretted about weak demand and expectations of US interest rate hikes that could bolster the dollar. Benchmark copper on the London Metal Exchange was down 1.2% at $13,645 a metric ton by 1200 GMT, but up from an earlier $13,629 — its weakest since July 29. A higher US currency makes dollar-priced metals more expensive for holders of other currencies, which could subdue demand. This relationship is used by funds that trade using buy and sell signals from numerical models. US Federal Reserve officia...
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