Coffee edges lower despite falling dollar

Economies.com
2021-02-09 14:32PM UTC

Coffee prices fell on Tuesday, despite the US dollar's drop against its peers.

 

Coffee future contracts were lifted from the recent rebound in demand for agricultural commodities, which boosted the prices of other commodities like coffee.

 

Coffee was also lifted by the coronavirus pandemic and the lockdown restrictions in many countries.

 

Johns Hopkins University reported that the number of Covid-19 infections rose to more than 107 million cases worldwide, with a death toll of more than 2.5 million victims.

 

The dollar index fell against a basket of major currencies by 0.3% to 90.6 points as of 14:17 GMT, after hitting a high of 90.9 points and a low of 90.5 points.

 

As of 14:18 GMT, coffee futures fell 0.2% to $1.23 per pound.

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