Copper futures settle down despite weaker dollar overseas
Copper futures settled down on Tuesday as investors were cautious ahead of major central bank decisions, including the Federal Reserve policy announcement scheduled for Wednesday, April 8. However, some falls were limited by weakness in the US dollar against its major peers overseas after Iran agreed to temporarily reopen the Strait of Hormuz as part of a two-week peace agreement with the United States and Israel.
Copper futures for May delivery fell $0.038 to settle at $5.5630 a pound on the Comex metals division of New York Mercantile Exchange. Copper on the London Metal Exchange was down by 0.38% at $12,313 a ton.
