COMEX copper futures surged on Wednesday, heading back to a four month high amid sustained weakness in dollar overseas. The DXY is now under 99 mark amid increasing expectations of a Federal rate cut in December. Besides, chatter about Trump mentioning Hassett as a potential Chairman who is known for his dovish stance is also weighing on the greenback. The dollar index that measures the greenback against a basket of currencies is quoting at 98.94, down 0.36% on the day. Meanwhile, European stocks inched higher in cautious trade on Wednesday. The pan European Stoxx 600 edged up by 0.2 percent to 576.84 after closing flat with a positive bias on Tuesday. The German DAX gained 0.3 percent, while France's CAC 40 and the U.K.'s FTSE 100 were marginally higher. Stocks on the Wall Street also regained ground following the pullback seen during Monday's trading. Currently, the red metal is quoting at $5.33 per pound, up 1.81% on the day. On the MCX, copper futures are up more than 2% at Rs 1069 per kg.

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