14 APRIL 2014Reuters
Aluminium a top gainer on LME, rises by 1.93%
Edited by : AL CIRCLE
1 min read
Base metals were supported by minutes of the Federal Reserve's March meeting, which suggested U.S. policy makers would be more cautious about raising interest rates than some analysts had expected.
The Fed minutes also dented the dollar, which fell to a three-week low against a basket of currencies, further supporting commodities priced in dollars, making them cheaper to buy for consumers outside of the United States.
Sentiment also got a boost from data on Thursday showing U.S. jobless claims fell to a seven-year low.
Aluminium was a top gainer, climbing to a high of$1,895.75 a tonne, the strongest since Oct. 30 last year, before paring gains to close at $1,893, a 1.93 percent rise.
The Fed minutes also dented the dollar, which fell to a three-week low against a basket of currencies, further supporting commodities priced in dollars, making them cheaper to buy for consumers outside of the United States.
Sentiment also got a boost from data on Thursday showing U.S. jobless claims fell to a seven-year low.
Aluminium was a top gainer, climbing to a high of$1,895.75 a tonne, the strongest since Oct. 30 last year, before paring gains to close at $1,893, a 1.93 percent rise.
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