Cotton futures drop as dollar's rally erodes commodity demand
Sunday, 21 March 2010
NEW YORK, March 20 (Bloomberg): Cotton futures declined as a rally by the dollar eroded the appeal of commodities as alternative investments.
The greenback rose as much as 0.8 per cent against a basket of six major currencies. The Reuters/Jefferies CRB Index of 19 raw materials slipped 1.1 per cent, the most since Feb. 25, and gold had the biggest drop in six weeks. The Standard & Poor's 500 Index also slumped.
The greenback rose as much as 0.8 per cent against a basket of six major currencies. The Reuters/Jefferies CRB Index of 19 raw materials slipped 1.1 per cent, the most since Feb. 25, and gold had the biggest drop in six weeks. The Standard & Poor's 500 Index also slumped.