METALS-London copper near two-week high as dollar takes breather

lunes 16 de marzo de 2015 04:07 GYT
 

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* Coming Up: U.S. New York Fed mnfg March at 1230 GMT (Adds comment, detail; updates prices)

By Melanie Burton

MELBOURNE, March 16 (Reuters) - London copper edged higher on Monday, towards a 10-day top hit the session before, as a lull in the U.S. dollar strength ahead of a monetary policy meet this week eased pressure on commodities.

After months of strong jobs data, expectations have been growing that the Federal Reserve would signal a June rate rise at a meeting that begins on Tuesday. A stronger dollar erodes purchasing power for commodities, but the dollar paused for breath on Monday.

That, plus questions over China's economic growth after comments by Premier Li Keqiang added headwinds to copper, said analyst Joel Crane of Morgan Stanley in Melbourne.

Premier Li vowed to keep China's economy growing at a reasonable speed, even as he also said authorities could do more to stoke growth, which triggered a rally in Chinese equities.

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