Copper futures settle higher as US dollar weakens overseas
Copper futures settled higher on Monday as the US dollar weakened against its major peers overseas after dovish comments from Federal Reserve's Vice Chair Michelle Bowman. She said she could support reducing interest rates as soon as July. Copper prices improved further after the US President Donald Trump announced a complete and total ceasefire between Iran and Israel, signalling a potential end to nearly two weeks of escalating conflict in the Middle East.
Copper futures for July delivery gained $0.016 to settle at $4.8495 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was up by 0.35 percent at $9,667.50 a ton.
