Copper Slides From Record on US Rate Outlook, Dollar’s Advance

Copper retreated from the previous session’s record high after the Federal Reserve tempered rate-cut expectations, helping to boost the US dollar.

Fed Chair Jerome Powell warned that investors need to rein in expectations for a December rate cut. The Bloomberg Dollar Spot Index rose as much as 0.6% on Thursday, the most in more than three weeks. A stronger greenback makes commodities priced in the currency less appealing.

Traders are also weighing the outcome from US President Donald Trump’stalks with his Chinese counterpart Xi Jinping. Trump called the roughly 90-minute meeting with Xi “amazing,” but the one-year truce ...