Copper Gains as Weaker U.S. Dollar May Prompt Buying in Other Currencies

(Bloomberg) -- Copper gained in New York on speculation that a slumping dollar will encourage buyers holding other currencies to purchase the metal.

The U.S. currency dropped to an all-time low against the euro after a government report showed that the U.S. economy grew last quarter at the slowest pace in four years. Copper, traded in dollars, sometimes moves in the opposite direction of the U.S. currency as a change in the dollar's value makes the metal more or less expensive for buyers using other currencies.


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