Coffee prices rose for the first time in five days Thursday after the dollar weakened against the euro, attracting new buyers seeking commodities as an inflation hedge.
Coffee futures for September delivery added 1.5 cents to settle at $1.415 a pound on the ICE Futures U.S. exchange, after earlier trading as high as $1.4215.
Coffee edged higher after the greenback fell against the euro, which bought $1.5786 late Thursday. A weak dollar encourages buying of hard assets like commodities, which are viewed as a safe-haven investment. A falling greenback also makes commodities less expensive to overseas buyers.
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