By Anna Stablum March 23 (Bloomberg) -- Copper fell in London, reversing an earlier advance, as the dollar strengthened, reducing the appeal of metals as an alternative investment. The U.S. Dollar Index, a gauge against six counterparts, rose 0.3 percent, extending its gain this year to 3.9 percent. A stronger U.S. currency increases the cost of dollar-denominated commodities for those holding other monies. The euro fell toward a three-week low against the dollar amid speculation European leaders won’t agree on an aid package for Greece this week. “The situation in Greece continues to give the dollar a better bid tone,” said Randy North, a trader at RBC Capital Markets in London. “This, in turn, has put pressure on risk assets, including base metals.” Copper for delivery in three months fell as much as $43, or 0.6 percent, to $7,407 a ton on the London Metal Exchange. It was at $7,435 as of 11:05 a.m. Copper for May delivery slid 0.3 percent to $3.3705 a pound on the Comex in New York. To contact the reporter on the story: Anna Stablum in London at astablum@bloomberg.net.

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