While you were sleeping: US dollar hits commodities

Mon, 23 Nov 2015

By Margreet Dietz Nov. 24 (BusinessDesk) - Gains in the US dollar amid bets on a Federal Reserve interest rate increase in December pushed commodities including copper and gold lower. The strong greenback is hitting commodities denominated in it. Copper dropped below US$4,500 a metric ton for the first time since 2009. The likelihood of higher Fed rates by year-end is 74 percent, futures show, up from 50 percent at the end of October, according to Bloomberg. "The biggest factor here is the dollar," Hans van Cleef a senior energy ec...

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