Chinese Auto Sales 1.12 million units in May...

[WhiskeyGirl]

June 9 (Bloomberg) -- Copper prices gained the most in a week as a weaker dollar boosted demand for the commodity as a currency hedge and auto sales surged in China.

The U.S. Dollar Index, a six-currency gauge of the greenback’s value, fell as much as 1.6 percent. Copper has climbed 28 percent from the end of March as the dollar slumped 6.6 percent. Some traders buy commodities to preserve purchasing power when the U.S. currency slips. May vehicle sales rose 34 percent in China from a year earlier, an industry group said.

“We will see copper prices continue to rise on the dollar weakness story,” said Michael Pento, the chief economist at Delta Global Advisors Inc. in Holmdel, New Jersey. “The decline in the dollar will help all of the commodities.”

read more here -

http://www.bloomberg.com/apps/news?pid=20601086&sid=aAJbyTHus2Ks&refer=latin_america

How low will the Green Back go?