Rubber Posts First Weekly Loss in Four as Yen Reduces Appeal
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Rubber declined, posting the first weekly loss in four, after Japan’s currency rebounded and crude oil dropped, weakening the appeal of yen-denominated futures.
Rubber for delivery in December on the Tokyo Commodity Exchange lost 2.7 percent to end at 238.4 yen a kilogram ($2,406 a metric ton) after settling yesterday at the highest level since July 5. Futures lost 2.7 percent this week, the first weekly decline since the five-day period through June 14.