U.S. equities advance while yen drops with Treasuries before Fed

Franc Gains

The Swiss franc advanced versus all 16 major peers after the lower house of parliament voted against further deliberations of a law allowing banks to cooperate with the U.S., making it less likely the bill will pass.

The JPMorgan Global FX Volatility Index increased to 10.45% from 10.25% yesterday after climbing to a one- year high of 11.43% on June 13.

Nickel, Copper

Nickel, the worst performer this year among the six main industrial metals traded on the London Metal Exchange, retreated 1.6% to $14,055 a metric ton. The metal declined as much as 1.8% to trade at the lowest price since 2009. Copper for delivery in three months declined for a second day, falling 1.5% to a six-week low of $6,980 a ton.

Natural gas gained 1.5% to $3.934 a million British thermal units after jumping 3.8% yesterday, the biggest increase in seven weeks, on forecasts for hotter weather in late June that may spur demand from power plants. West Texas Intermediate crude added 0.3% to $98.06 a barrel.

Wheat advanced on concern that rain in parts of the U.S., the world’s largest exporter, will further delay harvesting that’s lagged behind last year’s pace. The contract for delivery in September increased 0.4% to $6.9050 a bushel on the Chicago Board of Trade. Soybeans for November delivery gained 0.3% to $12.8875 a bushel.


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