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Copper prices reached record highs in Asian trading on Monday due to a combination of factors, including a short squeeze on the Comex exchange and expectations of tighter market conditions, which led to increased buying of the metal.

Barings Bank was a UK-based merchant banking firm that failed after a trader named Nick Leeson engaged in a series of unauthorized and risky trades that went sour in 1995.

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The dollar is set to have its biggest weekly decline against the euro in two and a half months due to indications of lower inflation and a weakening U.S. economy, which could lead to potential interest rate cuts.