TOKYO: Tocom rubber futures fell on Thursday from a seven-month high, as crude oil and global shares slipped after talks to avoid a fiscal crisis in the United States turned sour.
The most-active Tokyo Commodity Exchange rubber contract for May delivery down by 5.1 yen at 282.6 yen per kg as of 15.30 JST.
The contract fell as low as 284 yen, after snapping four days of gains, when it had increased 4 percent by Wednesday’s close, on the back of a decline in the yen. Earlier on Wednesday, the contract reached its highest level since May.
The yen languished near 20-month lows against its U.S. peer on Thursday, but trading was choppy in thin conditions with yen bears possibly suffering a case of cold feet as the Bank of Japan’s policy decision loomed.
U.S. crude futures fell on Thursday, remaining below $90 a barrel, as investors took profits from recent gains.
Source: Rubber Country
