New York coffee posts gains

Benchmark March arabica coffee futures settled up 2.7 percent on Friday, after surging to a late-day fresh high dating back to February for the third time this week, on fund buying after a choppy session, traders said.
The New York Board of Trade March coffee contract jumped to 3.30 cents at $1.2760 per lb, trading in a range from $1.2275 to $1.2790, a peak dating back to February 8.
The rest finished up 3.00 to 3.50 cents per lb. NYBOT estimated Monday's final arabica volume at 14,104 contracts, compared to the previous official tally of 13,031 lots. The weak dollar, which makes coffee cheaper in other currencies, was a driving force for buyers, traders said.
The Liffe's benchmark January robusta contract in London settled down $2 at $1,434 per tonne, with losses trimmed in late trading after a run-up in New York, dealers said. The dollar slid to its lowest in months against most major currencies on Friday, after weak US factory data reinforced expectations of a cut in benchmark interest rates next year.