Commodities Tumble With Surging Dollar Hitting Raw Materials
- Interest rate hikes, recession fears have boosted the dollar
- Commodities from gold to copper and cotton retreat Wednesday
This article is for subscribers only.
Commodity prices slumped as a deteriorating economic outlook and surging US dollar weigh on the value of the world’s raw materials.
On Wednesday, everything from copper to gold and cotton were trading lower amid a renewed resurgence in the greenback as traders price in a darkening global economic outlook. A day earlier the Bloomberg Commodity Spot Index was at its lowest level since January 24.