Rubber Near 16-Month Low as Yen Gains After Fed Cuts Bond Buying
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Rubber in Tokyo declined as Japan’s currency advanced against the dollar, reducing the appeal of yen-denominated futures, after the Federal Reserve cut the pace of bond buying.
The contract for delivery in July fell 1.9 percent to 228 yen a kilogram ($2,227 a metric ton) on the Tokyo Commodity Exchange. That’s near Jan. 28’s settlement price of 226.7 yen, which was the the lowest since September 2012. Futures have lost 17 percent in January.