Rubber Rebounds From 16-Month Low as Weaker Yen Raises Appeal
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Rubber rallied from the lowest level in 16 months as Japan’s currency weakened against the dollar before the U.S. Federal Reserve ends a policy meeting, boosting the appeal of yen-denominated futures.
The contract for delivery in July, the most-active by volume, closed at 232.5 yen a kilogram ($2,250 a metric ton) on the Tokyo Commodity Exchange. Futures slipped into a bear market yesterday, settling at 226.7 yen, the lowest level since September 2012.