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Barchart
Barchart
Rich Asplund

THE TRUTH ABOUT: Dollar weakness boosts cocoa prices - The Untold Story

September ICE NY cocoa (CCU24) today is up +194 (+2.22%), and September ICE London cocoa #7 (CAU24) is up +16 (+0.25%).

Cocoa prices today are moving higher as a weaker dollar sparked some short covering in cocoa futures.  However, a rally in the British pound (^GBPUSD) to a 1-week high today is limiting gains in London cocoa as the stronger pound undercuts cocoa priced in terms of sterling.  

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