Tokyo Futures Down Slightly, Seen In Rang Trade

Tokyo rubber futures dropped slightly on Thursday (Mar 31) on profit taking after recent rises supported by limited supply as caution prevailed on whether prices could break above a key psychological level of 430 yen, dealers said.
FUNDAMENTAL
The benchmark rubber contract on the Tokyo Commodity Exchange for September delivery slipped 1.5 yen to 428.6 yen ($5.17) per kg by 0106 GMT.
The most-active Shanghai rubber contract for September delivery dropped 295 yuan to 34,805 yuan per tonne.
The yen slipped across the board on Thursday (Mar 31), hitting fresh 10-month lows versus the euro and holding near a three-week trough against the dollar as expectations grew that Japan will lag euro zone and U.S. Central banks in raising interest rates.
(Reuters, March 31, 2011)