
March ICE NY cocoa (CCH26) today is up +68 (+1.56%), and March ICE London cocoa #7 (CAH26) is up +5 (+0.16%).
Cocoa prices are moving higher today as a plunge in the dollar index (DXY00) to a 4.25-month low has sparked short covering in cocoa futures. However, gains in London cocoa are muted after the British pound (^GBPUSD) rallied to a 4.25-year high today. The stronger pound weighs on cocoa priced in sterling terms.