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Barchart
Barchart
Rich Asplund

Dollar Strength Prompts Long Liquidation in Cocoa Futures

December ICE NY cocoa (CCZ24) today is down -222 (-2.80%), and December ICE London cocoa #7 (CAZ24) is down -48 (-0.83%).

Cocoa prices today are moderately lower as a rally in the dollar index (DXY00) to a 2-1/4 month high sparked long liquidation in cocoa futures.  Losses in London were limited after the British pound (^GBPUSD) tumbled to a 1-3/4 month low today, boosting cocoa priced in sterling.

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