
July ICE NY cocoa (CCN24) on Friday closed down -516 (-4.77%), and July ICE London cocoa #7 (CAN24) closed down -198 (-2.19%).
Cocoa prices Friday finished sharply lower. After the dollar index (DXY00) rallied to a 6-week high Friday, long liquidation emerged in cocoa futures. Also, heightened political turmoil in France led to a risk-off mood in asset markets Friday and weighed on cocoa prices. Losses in London cocoa were limited after the British pound (^GBPUSD) fell to a 4-week low, which boosts cocoa that is priced in terms of sterling.