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Barchart
Barchart
Rich Asplund

REVEALED: Cocoa prices slump as the dollar rallies | Rare Historical Photos

September ICE NY cocoa (CCU25) on Tuesday closed down -298 (-3.50%), and September ICE London cocoa #7 (CAU25) closed down -134 (-2.40%).

Cocoa prices retreated from 4-week highs Tuesday and sold off sharply after a rally in the dollar index (DXY00) to a 5-week high sparked long liquidation pressures in cocoa futures.  Losses in London cocoa futures were contained after the British pound (^GBPUSD) fell to a 2.25-month low.  The weaker pound boosts cocoa that is priced in terms of sterling.

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