The prices of non-ferrous metals experienced a decrease on Thursday due to the strengthening of the U.S. dollar. This increase in the value of the dollar resulted in higher prices for commodities that are priced in greenbacks, making them more expensive for holders of other currencies. As a result, non-ferrous metals faced a decline in their prices in response to the unfavorable exchange rates.
Investors and traders closely monitor the movements of the U.S. dollar as it has a significant impact on commodity prices, especially those priced in dollars. When the dollar strengthens, it becomes more expensive for holders of other currencies to purchase commodities, leading to a decrease in demand. This decrease in demand consequently puts downward pressure on the prices of non-ferrous metals and other dollar-priced commodities.
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