Copper subdued as dollar recovers

Shanghai copper came off near 14-month highs yesterday as equities retreated and the dollar edged up from multi-month lows, and London futures eased as investors locked in recent gains.

Profit-taking also hit Asian stocks as the US currency regained some ground versus a basket of currencies after falling to 15-month lows in the previous session following US Federal Reserve Chairman Ben Bernanke's reiteration that the central bank was likely to keep interest rates at very low levels for some time.

Copper jumped to 13-month peaks in London on Monday as a weaker dollar and better-than-forecast US retail sales boosted sentiment.