FX.co ★ Copper Climbs Higher on Weaker Dollar

Copper futures experienced an uptick, surpassing $4.75 per pound on Tuesday, marking the highest level in over two weeks. This rise was primarily influenced by the weakening of the US dollar amidst escalating concerns regarding political and economic stability in the United States. Recent statements from President Donald Trump, urging for immediate interest rate reductions and criticizing Federal Reserve Chair Jerome Powell, have raised apprehensions about the central bank's autonomy, unsettling investors. Furthermore, ongoing trade tensions continued to dampen global sentiment, as China accused the United States of using tariffs as a tool of coercion and cautioned other countries about making concessions to Washington. Copper, often seen as an indicator of global economic health, also found support from speculations that upcoming US tariff measures might include copper imports, contributing additional uncertainty to the market.