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Rich Asplund

RARE PHOTOS: Cocoa prices supported by dollar weakness tlti7hgg | Vintage Vibes

Ice NY Ghana London

September ICE NY cocoa (CCU26) closed up +310 (+5.41%) on Monday, and September ICE London cocoa #7 (CAU26) closed up +178 (+4.32%).

Cocoa prices rallied sharply on Monday, with NY cocoa posting a 1.5-week high. Monday’s slump in the dollar index ($DXY) to a 2.25-month low is bullish for cocoa prices. However, gains in London cocoa were limited by Monday’s rally in the British pound (^GBPUSD) to a 3-month high, which weighed on cocoa priced in sterling.

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