METALS-Copper hits 3-week low as dovish Fed dampens rate-cut outlook
August 01, 2019 at 03:37 AM EDT
London copper prices slipped to a three-week low on Thursday, after Federal Reserve Chairman Jerome Powell said the U.S. central bank's first rate cut since 2008 was not the start of a long easing cycle, and Sino-U.S. trade talks appeared to have made little progress. The Fed lowered interest rates by the expected 25 basis points, but the dollar jumped on Powell's comments, making dollar-denominated metals