21.04.202507:08:50UTC+00Copper Hits 2-Week High on Weaker Dollar

Copper futures climbed to over $4.70 per pound on Monday, marking their highest level in more than two weeks. This rise was attributed to the weakening of the US dollar, which has been under pressure due to increasing concerns over US economic policies and the independence of the Federal Reserve. The US dollar's decline followed President Donald Trump's heightened tensions with the Federal Reserve, where he threatened to dismiss Chair Jerome Powell. This move unsettled investor confidence and amplified worries regarding the central bank's independence. Concurrently, escalating apprehensions about the economic impact of the US-China trade war intensified the risk-averse sentiment in the market. China has countered what it perceives as American "trade bullying," advising other nations against engaging in agreements that could compromise its stance. Copper, widely regarded as an indicator of global economic health, gained additional momentum from growing speculation on whether US tariffs might eventually extend to copper imports.