(Bloomberg) -- Cocoa headed for its biggest weekly drop since July in London after the pound, in which the contract is denominated, rose its highest against the dollar in more than a quarter of a century.
A stronger pound makes cocoa traded on the Euronext.liffe exchange more costly for investors holding other currencies. The pound on April 18 rose to its strongest against the dollar since June 1981.
Read more at Bloomberg Commodities News
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