European Session – Commodities rally as Fed rate hike hopes fade; Dollar steady ahead of Yellen
Posted on June 6, 2016 at 2:45 pm GMTCommodities rallied in European trading on Monday as a weaker dollar boosted commodity prices across the board just as market expectations of a Fed rate hike in June fell drastically. The dollar’s slide on Friday following a much weaker-than-expected jobs data has increased sentiment for commodities such as copper, zinc, nickel and iron ore, as well as for oil. The Thomson Reuters/Jefferies CRB commodities index was up 1.5% at 192.25 in afternoon European trading, boosted in part by stronger crude [..]