Money managers cut wagers on copper rally for a second week

New York

IT'S been barely a month since investors first started betting on a copper rally, and they're already on the retreat.

Money managers cut their wagers on price gains for a second week, pulling back just before futures capped the worst slump in a month. Tuesday's attacks in Brussels sapped confidence in the global growth outlook, while a recovery for the dollar weighed on demand for commodities as alternative assets.