September ICE NY cocoa (CCU26) is up +136 (+2.30%) on Tuesday, and September ICE London cocoa #7 (CAU26) is up +47 (+1.11%).
Cocoa prices are moving higher amid weakness in the dollar after the dollar index ($DXY) tumbled to a 2.5-month low today. Gains in London cocoa are limited due to strength in the British pound (^GBPUSD). The pound rallied to a 3.25-month high today, undercutting cocoa priced in sterling.