Rubber Books Third Weekly Gain on Speculation Yen to Extend Drop
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Rubber booked a third weekly gain in Tokyo amid speculation that the yen will drop further as Japan’s central bank may agree to double an inflation target after the election of a new government.
Rubber for delivery in May rose 0.6 percent to end at 284.5 yen a kilogram ($3,389 a metric ton) on the Tokyo Commodity Exchange, extending this week’s rally to 2.9 percent. A weaker Japanese currency can raise the appeal of yen-based contracts.