Tokyo Commodity Exchange (TOCOM) futures fell to a 3-week low on Tuesday, extending losses into a fourth straight session, as the yen's rise to a near six-month high versus the dollar prompted fresh selling. The benchmark TOCOM rubber contract for new December delivery finished at 192.4 yen ($1.8) per kg, down 0.5 yen from an opening price of 192.9 yen. It hit the lowest since June 4 of 191.5 yen earlier in the session.
The most-active rubber contract on the Shanghai futures exchange for September delivery rose 15 yuan to finish at 11,640 yuan ($1,692) per tonne. TOCOM's June contract expired at 233.4 yen per kg on Monday. TOCOM's technically specified rubber (TSR) 20 futures contract for December delivery closed up 0.8 yen at 158.2 yen per kg. The front-month rubber contract on Singapore's SICOM exchange for July delivery last traded at 146.7 US cents per kg, down 0.1%.
The dollar was last down 0.3% at 106.97 yen, having only fallen below 107 yen per dollar in the January flash crash and then last back in April 2018. A stronger yen makes yen-denominated assets less affordable when purchased in other currencies.