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Barchart
Barchart
Rich Asplund

Cocoa Prices Finish Sharply Higher on a Slumping Dollar

May ICE NY cocoa (CCK25) Friday closed up +423 (+5.23%), and May ICE London cocoa #7 (CAK25) closed up +221 (+3.69%).

Cocoa prices Friday settled sharply higher as a selloff in the dollar (DXY00) to a 3-year low prompted short-covering in cocoa futures.  Friday's rally in the British pound (^GBPUSD) to a 1-week high limited gains in London cocoa as the stronger pound weighs on cocoa priced in terms of sterling.

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