Coffee drops as dollar rises
2 years ago

Coffee prices fell on Friday, and erased some of Thursday's gains as the US dollar rose against its peers.


10-year treasury yields rose over 3.5% to 1.6%, edging near 13-month highs at 1.622%.


This renewed concerns and dampened the global risk apatite, which makes the US dollar shines as the best alternative investment and puts pressure on commodities and metals.


The Brazilian real fell again against the US dollar near a 10-month low, ahead of Brazil's interest decision next week, which attracts buyers to the world's largest exporter of coffee.


The dollar index rose against a basket of major currencies by 0.5% to 91.8 points as of 14:09 GMT, after hitting a high of 91.9 points and a low of 91.4 points.


As of 14:20 GMT, coffee spot futures fell 0.2% to $1.32 per pound.

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