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19 Apr 2013: Tocom Rubber Settles Higher As Yen Drops Vs Dollar

Tocom rubber futures settle 3.3% higher, with gains extending after the yen dropped against the greenback. A trader in Thailand says spot trade has already started picking up at this time of the day due to the rise on Tocom, an indication that buyers are locking in purchases ahead of further gains. He adds that next resistance is likely beyond the Y260/kg level as prices are off 8.4% on-week. Benchmark September rubber settles Y8 higher at Y253.2/kg, off the intraday high of Y254/kg.

Source: Dow Jones

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This entry was posted on Friday, April 19th, 2013 at 3:02 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.

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