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Cotton futures dipped below 67 cents per pound on Thursday, driven lower by a stronger U.S. dollar and weak sentiment across the broader grains market. The dollar’s rise came following an announcement by President Trump regarding a new tariff agreement with the United Kingdom, which made U.S. cotton more expensive on the global market.
The strength of the dollar further added to the downward pressure on cotton futures, contributing to the overall subdued mood in the commodity markets.
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