Rubber gained for a fourth day to a three-week closing high as the Japanese currency retreated, boosting the appeal of yen-denominated contracts for the commodity traded globally in dollars. Prices in Tokyo advanced to the highest close since May 11, recovering from an earlier drop of as much as 1 per cent. The yen pared gains after strengthening as much as 0.7 per cent versus the dollar.
“Rubber swung back to positive territory after the yen eased during the day,” Navarat Kaewpratarn, a marketing official at Bangkok-based Future Agri Trade, said by phone on Monday. Rubber is used to make tyres. Natural rubber for November delivery, the most-active contract, added 1.5 per cent 171.9 a kg on the Tokyo Commodity Exchange.
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