Coffee Gains as Dollar Continue Declining
Coffee increased on Thursday on concerns that a decline in the dollar will boost demand for futures in New York as investors increase stakes in agricultural commodities.
Coffee futures for May delivery increased by 2.5 percent, or 3.9 cents, to $1.5785 a pound in New York.
Coffee prices increased by 4.9 percent since March 10 and coffee futures were as high as $1.719 on Feb. 29.
The dollar continued declining making commodities traded in New York cheaper for buyers holding other currencies.
Oil Rises to New Record at $111 on Falling Dollar Mar 13, 2008 4:42PM
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