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Rich Asplund

UNBELIEVABLE: Cocoa price retreat on dollar strength | History Defined

Ice ICCO London NY

December ICE NY cocoa (CCZ24) Wednesday closed down -177 (-2.30%), and December ICE London cocoa #7 (CAZ24) closed down -42 (-0.73%).

Cocoa prices posted moderate losses on Wednesday as a rally in the dollar index (DXY00) to a 2-1/4 month high, which sparked long liquidation in cocoa futures.  Losses in London were limited after the British pound (^GBPUSD) tumbled to a 1-3/4 month low Wednesday, boosting cocoa priced in sterling.

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