Copper hits five-week high after US data undershoots, dollar slides

Copper prices jumped on Wednesday to the highest in over five weeks after data showed U.S. inflation was weaker than expected, stoking hopes that interest rate hikes would be less aggressive and easing fears of a recession.

Three month copper on the London Metal Exchange gained 1.3% to $8,089 a tonne by 1630 GMT, the highest since July 1, after earlier easing to $7,889.
 

U.S. Comex futures climbed 1.9% to $3.65 a lb.
 

U.S. consumer prices did not rise in July compared with expectations of economists that the monthly gain would be 0.2%, a report that could allow the Federal Reserve