Copper hits highest in nearly four months as US$ falls

London

COPPER prices climbed to their highest in nearly four months on Friday after US data showed strong jobs growth combined with low wages, lessening the threat of a early interest rate rise.

Average hourly earnings fell three cents in February even as non-farm payrolls increased by 242,000 jobs last month.

Dampened worries about a Fed hike sent the dollar index to a two-week low, making metals priced in the US currency cheaper for buyers outside the United States.

That encouraged further buying of copper by funds and triggered pre-set buy orders after copper broke through key levels, a trader said. "Upside momentum is keeping the buy signal going. It's nearly all fund buying - both short cove…