Copper eases

Reuters

Melbourne

Shanghai copper eased on Monday in thin trading, with the London and U.S. bourses shut for a long weekend, and as a stronger dollar and fading Chinese demand dragged prices towards their weakest monthly showing since November.

The dollar hit a one-month high against the yen early on Monday and stood tall against other peers after comments by Federal Reserve Chair Janet Yellen enhanced the prospect of a near-term U.S. interest rate hike.

The U.S. central bank should raise interest rates "in the coming months" if economic growth picks up and the labour market continues to improve, she said on Friday.

The dollar´s upward trend as a U.S. rate rise nears has weighed on commodity prices that have become more expensive for buyers paying with other currencies.