Base Metals Preview: COMEX copper comes off a one-week high
Mumbai, Aug. 25 -- COMEX copper edged lower from a one-week high on Tuesday morning in Asia as dollar is gaining impetus, supported by safe-haven demand as the US moved to cut Iran off from the global financial system. Treasury Secretary Scott Bessent announced plans on Monday to isolate Iran through sanctions targeting countries doing business with the Islamic Republic. Meanwhile, the Treasury Department announced an expansion of its buyback program for long-dated government debt in an effort to contain rising borrowing costs, limiting upside in the DXY. Meanwhile, stocks on Wall Street fluctuated over the course of the trading day on Monday but largely maintained a negative bias. The tech-heavy Nasdaq showed a notable decline on the day, ...
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