September ICE NY cocoa (CCU25) today is down -266 (-3.12%), and September ICE London cocoa #7 (CAU25) is down -104 (-1.86%).
Cocoa prices retreated from 4-week highs today and sold off sharply after a rally in the dollar index (DXY00) to a 5-week high sparked long liquidation pressures in cocoa futures. Losses in London cocoa futures are contained after the British pound (^GBPUSD) fell to a 2.25-month low. The weaker pound boosts cocoa that is priced in terms of sterling.
