0
NEW YORK, Aug 9: Cotton futures lost more than 3 per cent by the close on Friday, caught up in broad-based commodity sell-off stemming from a US dollar rally.
Cotton for December delivery closed down 2.21 cents, or 3.1 per cent, at 69.17 cents per lb.
The session range spanned from 69.05 to 71.30 cents.
Cotton fell amid broader weakness in the commodities complex brought upon by a rally in the US dollar.
The dollar surged against the euro and was on track for its biggest one-day gain in about five years as evidence mounted the US economic slowdown is spreading, making interest rate increases less likely around the world.—Reuters
