Copper Falls as Inflation Data Fuels Fed Hike Speculation
Copper futures on the London Metal Exchange fell by as much as 0.6% after hotter-than-expected US inflation data was released, causing traders to boost bets on the Federal Reserve hiking interest rates.
The data saw a strengthening dollar and broader pressure on risk assets weigh down most other major metal contracts.
Fed rate hike expectations are now higher than before, as the market digests this latest inflation reading.