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Barchart
Rich Asplund

Dollar Weakness Boosts Cocoa Prices

Ice NY London Ghana

September ICE NY cocoa (CCU26) is up +305 (+5.32%) today, and September ICE London cocoa #7 (CAU26) is up +167 (+4.05%).

Cocoa prices are sharply higher today, with NY cocoa posting a 1.5-week high. Today’s slump in the dollar index ($DXY) to a 2.25-month low is bullish for cocoa prices. However, gains in London cocoa are limited by today’s rally in the British pound (^GBPUSD) to a 3-month high, weighing on cocoa priced in sterling.

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