2010.09.2009:43:00UTC+00Copper Climbs To Five Month High As Dollar Slips

News

• Copper climbed to a fresh five-month peak buoyed by a falling dollar and market talk of further quantitative easing in the United States.
• Benchmark copper for three month delivery on the LME  traded at $7,750 a tonne in LME rings from $7,720 at the close on Friday.
• The dollar slipped broadly on speculation the Federal Reserve may flag the need to inject more stimulus into the struggling U.S. economy when it announces its latest policy decision on Tuesday.
• Analysts said that if the U.S. pumps more money into the economy, it will further boost fund buying, which has helped lift base metals prices in recent weeks.
• Aluminium touched $2,223, its highest level since Aug. 6, and was untraded but last bid at $2,208 in LME rings.
• Among other metals, nickel traded at $23,350 in LME rings from a final bid at $23,200 on Friday.