TOKYO: Japanese rubber futures rose on Thursday after the US Federal Reserve signalled it will continue loose monetary policy that has helped to fuel gains in commodities and other markets.
Osaka Exchange’s rubber contract for December delivery finished 4.4 yen, or 2.1%, higher at 213.9 yen per kg.
In testimony to the US Congress, Fed Chair Jerome Powell said the US economy was “still a ways off” from levels the central bank wanted to see before tapering its monetary support.
He also said he is confident recent price increases are associated with the country’s post-pandemic reopening and will fade.
The rubber contract on the Shanghai futures exchange for September delivery rose 1.4% to finish at 13,370 yuan per tonne.
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