Arabica coffee bounces above two-week low

Arabica coffee futures on ICE rebounded from a two-week low on Thursday, up for the
first time in five sessions on support from a stronger Brazilian
currency.

* July arabica coffee settled up 0.8 cent, or 0.7 percent, at $1.1955 per lb, after falling to a two-week low at $1.1835.

* Prices were boosted partly by a strengthening in top producer Brazil’s real currency against the dollar , traders said.

* The real had fallen to a 2016 low the prior session, which made dollar-denominated prices more attractive in local currency terms.

* Arabica prices rebounded after tapping a technical support level around $1.185, traders said.

* July robusta coffee settled down $4, or 0.2 percent, at $1,743 per tonne, after touching a three-week low of $1,728.

Copyright Reuters, 2018

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