This entry was posted on Thursday, July 22nd, 2010 at 3:42 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 rubber futures settle 2.4% lower after dipping to week-low of Y256.7/kg as yen hits week-high against dollar after Fed Chairman Bernanke”s downbeat assessment of U.S. economic outlook; crude also down. Only spot July contract up; on short covering. Strong yen weighs on Tocom, which may see further long liquidation if currency continues to gain, says Tokyo-based analyst. Yen may strengthen even more, say currency traders. Benchmark December rubber contract settles Y6.2 lower at Y257.3/kg.
Source: Dow Jones