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Copper resumed a rally that saw it hit an 11-month high this week, after the Federal Reserve’s signals on future rate cuts bolstered risk appetite and weakened the US dollar.
The US dollar steadied following a decline on Wednesday, as Fed policymakers kept their outlook for three cuts this year and moved toward slowing the pace of reducing their bond holdings, suggesting they aren’t alarmed by a recent uptick in inflation. A weaker greenback makes commodities from copper to iron ore cheaper to other currency holders.
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