ICE cotton futures jumped over 3 percent on Wednesday to hit a near five-month high, amid a weaker dollar. The March cotton contract on ICE Futures US touched a session high of 74.23 cents per lb, a peak since August 9, 2016. The dollar fell against the euro and yen on Wednesday, backing off a 14-year high against a basket of currencies with investors cautious about increasing bets on the greenback without fresh clues on the US economy and the timing of interest rate increases.

Copyright Reuters, 2017