Copper at All-Time High as Dollar Weakens

February 1st, 2011
in News, Banking

Bloomberg:  Copper futures for March delivery climbed to an all-time high of $4.551 a pound. On the London Metal Exchange, aluminum touched $2,570 a ton, the highest since September 2008, and nickel climbed to $28,120 a ton, the highest since May 2008.

Follow up:

The euro rose to a two-month high versus the dollar as people familiar with the situation said the European Financial Stability Facility may buy distressed government debt in private placements. Jordan’s dinar and Israel’s shekel gained versus the dollar on speculation Egyptian turmoil will be contained.

The dollar depreciated 1 percent to $1.3833 per euro after touching $1.3843, the weakest level since Nov. 9. The U.S. currency decreased 0.8 percent to 81.36 yen after touching 81.32, the lowest level since Jan. 3.  Read more at Bloomberg.....

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