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Rich Asplund

THE TRUTH ABOUT: Cocoa closes higher on dollar weakness | History Defined

Ice ICCO London NY United States Ghana

Dec ICE NY cocoa (CCZ23) on Thursday closed +71 (+1.87%), and Dec ICE London cocoa #7 (CAZ23) closed +40 (+1.20%).

Cocoa prices on Thursday closed moderately higher as they consolidated just below Monday's highs. A decline in the dollar index (DXY00) Thursday to a 1-week low supported cocoa prices, although gains in London cocoa were muted after the British pound (^GBPUSD) rose to a 1-week high, undercutting cocoa priced in terms of sterling.

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