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Barchart
Barchart
Rich Asplund

Dollar Strength Undercuts NY Cocoa Prices

September ICE NY cocoa (CCU25) on Wednesday closed down -28 (-0.34%), and September ICE London cocoa #7 (CAU25) closed up +16 (+0.29%).

Cocoa prices settled mixed on Wednesday due to currency fluctuations.  NY cocoa was under pressure Wednesday from a rally in the dollar index (DXY00) to a 2-month high.  London cocoa moved higher Wednesday after the British pound (^GBPUSD) fell to a 2.25-month low.  The weaker pound boosts cocoa that is priced in terms of sterling.

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