Copper Price Dips on Stronger Dollar

May. 18, 2016 10:39AM PST

Copper prices dipped on Wednesday as the US dollar gained strength, the Wall Street Journal reported. As quoted in the publication: Copper for July delivery was recently down 0.8% at $2.0725 a pound on the Comex division of the New York Mercantile Exchange. The WSJ Dollar Index, which measures the dollar against 16 other currencies, …

Copper prices dipped on Wednesday as the US dollar gained strength, the Wall Street Journal reported.
As quoted in the publication:

Copper for July delivery was recently down 0.8% at $2.0725 a pound on the Comex division of the New York Mercantile Exchange.
The WSJ Dollar Index, which measures the dollar against 16 other currencies, was recently up 0.3% at 87.13. A stronger dollar tends to hurt copper, since the metal is priced in the U.S. currency and becomes more expensive to foreign buyers.

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