Benchmark Tokyo rubber futures hit their lowest in nearly eight months on Wednesday, coming under pressure as the yen soared to a 15-month high against the dollar, brokers said.
The Tokyo Commodity Exchange rubber contract for July delivery finished 5 yen lower at 184.3 yen (US$1.72) per kg. Earlier in the session, it hit 184.1 yen, the lowest since June 21, 2017.
The dollar slid to a 15-month low against the yen on Wednesday, as investors remained on edge ahead of key US inflation numbers later in the day, underscoring fragile risk sentiment following the recent shakeout in equity markets.
A stronger Japanese currency makes yen-denominated assets less affordable when purchased in other currencies.
The most-active rubber contract on the Shanghai futures exchange for May delivery rose 25 yuan to finish at 12,500 yuan (US$1,972) per tonne.
Chinese markets will be closed for a week from Thursday for the Lunar New Year holiday.
The front-month rubber contract on Singapore's SICOM exchange for March delivery last traded at 143.80 US cents per kg, down 0.7 cent.
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