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Sept 11: Tocom Rubber Futures Settle Lower On Weak Dollar

[Dow Jones] Tocom RSS3 rubber futures settle lower on long liquidation ahead of weekend, spillover weakness from slump in U.S. dollar against Japanese yen. “Traders are bullish but are booking profits after recent gains, and the stronger yen has served as a trigger,” says exporter in Thailand. Greenback hit fresh seven-month low of Y90.77 today, traders expect further downside. Slowdown in Chinese rubber imports also weighs on prices. Benchmark Tocom February rubber futures Y3.0 lower at Y215.1/kg after reaching intraday low of Y213.3/kg. (SAM)

Source: Dow Jones

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« Sept 10: Rubber Climbs to 11-Month High as Oil Rally Boosts Rival’s Cost
Sept 14: Thai USS3 Rubber Prices Ease Tracking Weak Futures »

This entry was posted on Saturday, September 12th, 2009 at 9:26 am 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.

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