Copper futures fell below $3.9 a pound in New York on Friday as the dollar recovered gains against the euro.

Today, the dollar jumped 1 percent against a basket of six major currencies including the euro, yen and pound. Among them, the euro was trading at $1.5747 or 0.9 percent down compared to yesterday.

As the dollar rallied demand for commodities slumped since traders usually buy them to compensate for inflation.

Copper futures for delivery in July ended today down 2.2 cents or 0.56 percent to $3.8925 a pound on the Comex division of the New York Mercantile Exchange.

The red metal soared to a new record of $4.045 a pound on Thursday amid supply worries caused by a labor strike in Chile's Codelco.

Codelco is world's copper producer and has threatened to reduce demand since 2 of its mines are closed in a strike that is hitting the third consecutive day.

Several analysts have predicted copper prices will rise to as supplies find hard to meet demand.

Inventories of copper monitored in the London Metal Exchange fell 2.325 tonnes at 114,200 tonnes today.

Copper stockpiles monitored in the Shanghai Futures Exchange fell 5 percent to 56,182 tonnes in the wee ended Thursday, Reuters reported.

Copper futures for delivery in three months fell $133 or 1.29 percent to $8,677 a metric ton in the London Metal Exchange.

Copper