Rubber Breaches 300-Yen Level as Yen Drops on Stimulus Outlook
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Rubber rallied above the 300-yen level for the first time since May as Japan’s currency dropped to a 27-month low on prospects for additional stimulus driven by Prime Minister Shinzo Abe’s new government.
Rubber for delivery in June advanced 1.6 percent to 300.7 yen a kilogram ($3,507 a metric ton) on the Tokyo Commodity Exchange, the highest settlement for the most-active contract since May 8. Futures have gained 14 percent this year.