Scrap Bare Bright Copper Idx (CUPAUSY1.CM)

The dollar index (DXY00) on Wednesday fell by -0.03%.  The dollar finished slightly lower on Wednesday and was under pressure most of the day after the yen rallied on jawboning from Japanese government officials.  The dollar still has some negative carryover from Monday, amid concerns over Fed independence, after Fed Chair Powell said the Justice Department's threat of criminal charges against the Federal Reserve over his June testimony on Fed headquarters renovations is the consequence of the Fed not going along with President Trump's calls for lower interest rates.  The dollar fell to its low today when Philadelphia Fed President Anna Paulson said she sees Fed rate cuts later this year.

However, the dollar recovered most of its losses on Wednesday afternoon after an upbeat Fed Beige Book noted that US economic activity picked up at a "slight to modest pace" in most parts of the country since mid-November.  "This marks an improvement over the last three report cycles, where a... Read more