Shanghai copper gains

Copper prices rose on Wednesday, with Shanghai metal up 0.7 percent and London futures just shy of $6,600, as investors bet on a dollar sell-off after a Federal Reserve meeting ends later in the day. While the market expects the two-day US Federal Reserve meeting to leave rates unchanged, attention will be paid to clues about future rate policy, the state of the economy and signals the central bank will start to mop up some of the liquidity it has hosed over the market.
"The Fed statement will be a key document especially if they hint they will start rolling back some stimulus. My feeling is that they will acknowledge growth is up but will do nothing," MF Global analyst Edward Meir said. "That will likely weigh on the dollar and perhaps the market is anticipating that." The greenback fell versus the euro at 1.4744, supporting dollar-priced commodities.