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Barchart
Rich Asplund

Cocoa Prices Slip on Dollar Strength

Ice ICCO London Ivory Coast NY

July ICE NY cocoa (CCN23) on Thursday closed down -23 (-0.76%), and July ICE London cocoa #7 (CAK23) closed down -1 (-0.04%).

Cocoa prices Thursday posted moderate losses.  Thursday's rally in the dollar index to a 1-week high weighed on cocoa prices.  However, losses in London cocoa were limited Thursday after the British pound (^GBPUSD) fell to a 1-week low.  A weaker pound undercuts cocoa priced in terms of sterling.

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