Rubber Retreats From 11-Week High as Stronger Yen Cuts Appeal
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Rubber fell from an 11-week high as the Japanese currency strengthened after a U.S. Federal Reserve official cautioned against excessive optimism over the economy.
Rubber for delivery in January on the Tokyo Commodity Exchange dropped 0.5 percent to end at 264.6 yen a kilogram ($2,704 a metric ton). Futures settled at 265.9 yen yesterday, the highest close for a most-active contract since May 29. The commodity used in tires has lost 13 percent this year.