Geo-political and weaker than expected economic news out of the U.S. weakened the dollar against a basket of currencies driving copper prices up along with the peso.
A potential cease-fire in the Ukrainian conflict and continued talks to resolve Greece’s debt crisis helped to push copper prices higher on perceived demand increases. Reuters quoted one analyst, “Traders are waiting for the Greece saga to end and hopefully both parties will find a way to come out of this deadlock situation and this could renew copper demand in the euro zone.”
Copper price on the COMEX for March delivery jumped 2.5 percent to …read more
Source: I Love Chile News