Prices of copper, often used as a gauge of global economic health, were almost flat in London Exchange on Wednesday, as investors exercised caution ahead of a key central bank meeting in Europe that could offer more clues on its tapering decision.
The dollar hovered near a one-week peak against major peers, buoyed by elevated Treasury yields and a weaker euro amid caution before the European Central Bank debates a cut in its stimulus on Thursday.
A stronger dollar makes greenback-priced metals more expensive, and therefore, less appealing to holders of other currencies.
Three-month copper on the London Metal Exchange was almost unchanged at $9,352.50 a ton, while the most-traded October copper contract on the Shanghai Futures Exchange eased 0.5 percent to 68,980 yuan ($10,671.58) a ton. — Reuters
