(Bloomberg) -- Platinum fell from a two-week high
in New York as a stronger U.S. dollar reduced the metal's appeal
as a hedge against inflation. Palladium also dropped.
The dollar rose against the euro and traded near a four-
year high versus the yen earlier today. A Federal Reserve report
showed manufacturing in the Philadelphia area accelerated in
June at the fastest pace in more than two years. Platinum, which
is mostly traded in dollars, generally moves in the opposite
direction of the U.S. currency.
Read more at Bloomberg Commodities News
in New York as a stronger U.S. dollar reduced the metal's appeal
as a hedge against inflation. Palladium also dropped.
The dollar rose against the euro and traded near a four-
year high versus the yen earlier today. A Federal Reserve report
showed manufacturing in the Philadelphia area accelerated in
June at the fastest pace in more than two years. Platinum, which
is mostly traded in dollars, generally moves in the opposite
direction of the U.S. currency.
Read more at Bloomberg Commodities News
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