This entry was posted on Thursday, June 18th, 2009 at 6:50 pm and is filed under Rubber News. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.
[Dow Jones] Tocom RSS3 rubber futures settle lower at one-month low, below crucial psychological mark of Y160/kg as traders set up short positions taking leads from stronger yen. “All commodities in Japan are witnessing downward pressure due to the strengthening of the local currency,” says Tokyo-based trading executive; adds stronger yen likely to make natural rubber imports cheaper but may not necessarily push up demand as local economy still weak. USD/JPY was around 95.63 in spot market but traders say pair could test 95.00. Benchmark Tocom RSS3 rubber futures settle Y3.2 lower at Y158.2/kg after moving to intraday low of Y157.5/kg.
Source: Dow Jones