THE Kwacha was steady against the dollar on Monday in mild but balanced trading, the Zanaco daily newsletter has said.

The newsletter published yesterday said the local currency held steady through much of intraday trading with little activity from corporate and interbank traders to provide clear direction for the markets.

"The Kwacha briefly touched a high of K 5.47/ K 5.79 on the day but quickly ceded gains to settle at K 5.48/ K 5.50, it's opening and close rate on the day," the newsletter said.

The local currency is expected to continue on a steady path versus the dollar in the near-term with a trading range of between K 5.44 and K 5.52

Meanwhile, copper steadied after hitting a near three-week low on Monday following concerns about top consumer China's economy, with expectations that the Federal Reserve would reaffirm its pledge to keep United States (US) interest rates near zero underpinning prices.

Three-month copper on the London Metal Exchange (LME) fell to its lowest since July 10 at $6,820 a tonne in intraday trade.

"It recovered to end at $6,878 a tonne, up from a last bid of $6,860 on Friday," said the Zanaco daily news letter.