15:21 EDT - Cotton futures, which are particularly sensitive to economic data, took off after the Fed announced further quantitative easing to stimulate the US economy. "Today was a Bernanke rally," says independent analyst Mike Stevens. "[Shorts] were scrambling to get out." He adds that the market is likely being supported by continued Chinese buying. "It sets up anticipation for another decent export number next week," he says. Stevens expects to see prices at 77c/lb. near-term. ICE cotton for Dec delivery settled 3.2% higher at 75.90c/lb, a high since Sept 7.