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Rich Asplund

BIZARRE: Dollar weakness lifts cocoa prices tschu8wb - What They Never Told You

Ice London Ghana

September ICE NY cocoa (CCU26) closed up +141 (+2.39%) on Wednesday, and September ICE London cocoa #7 (CAU26) closed up +48 (+1.14%).

Cocoa prices settled sharply higher on Wednesday amid weakness in the dollar after the dollar index ($DXY) tumbled to a 2.5-month low. Gains in London cocoa were limited on Wednesday due to strength in the British pound (^GBPUSD). The pound rallied to a 3.25-month high on Wednesday, undercutting cocoa priced in sterling.

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