Coffee Prices Sharply Higher as the Brazilian Real Surges

Arabica coffee for July delivery (KCN25) saw a 3.93% increase, closing up by +13.60, while ICE robusta coffee for July (RMN25) closed up by +2.71%, a gain of +121 points. Coffee prices surged on Thursday, reaching one-week highs. The rise in the Brazilian real’s value against the dollar, reaching a 7.5-month high, prompted fund managers to cover their short positions.