TOKYO : Tocom rubber futures rose to a seven-month high on Monday as the yen slumped against the dollar after a conservative party that has pledged to aggressively easing monetary policy won a landslide victory in Japanese elections on Sunday.
The most-active Tokyo Commodity Exchange rubber contract for May delivery was up by 8.5 yen at 284.9 yen per kg as of 15.30 JST.
The May contract earlier rose to 282.8 yen, the highest for any benchmark since May 14.
Rubber has been supported by a weaker yen, which makes yen-denominated assets more affordable when purchased in other currencies.
Related Post
U.S. crude oil futures extended gains on Monday to around $ 87 a barrel amid hopes for higher demand from China.
Source: Rubber Country
