METALS-Copper Up on ECB Intervention Hopes
Copper rose to hit a 1-week high on Tuesday as the dollar softened and market players were hoping the euro zone would take new measures to shore up its faltering economy, but slack metals demand in top consumer China kept a lid on prices.
Markets have enjoyed a strong run after the European Central Bank (ECB) promised to step in and buy bonds to ease pressure on Spain and Italy, albeit under strict conditions that are yet to be spelled out.
Expectations the ECB will act soon boosted the euro, which rose near a one-month high against the dollar.
