Tokyo Futures Dip As Yen's Depreciation Pauses Tokyo

Tokyo rubber futures nudged lower in early morning trade on Friday (Apr 8) as investors closed positions ahead of the weekend and after a broad selloff of the yen in Asia had paused.
FUNDAMENTALS
The key Tokyo Commodity Exchange rubber contract for September delivery was down 1.2 percent or 5.3 yen at 453.3 yen as of 0026 GMT.
The most active Shanghai rubber contract for September delivery fell 150 yuan to close at 35,790 yuan ($5,469) per tonne on Thursday (Apr 7). Volume dropped to 448,114 lots from Wednesday's (Apr 5) 597,070 lots.
Oil prices ended at 2-1/2-year highs on Thursday (Apr 7) as supply worries tied to fighting in
Libya and Middle East turmoil overshadowed demand concerns spurred by a boost in euro zone interest rates and as a major aftershock struck northeast Japan.
The broad selloff in the yen stalled early in Asia on Friday (Apr 8) as investors took profits on
short positions following a major earthquake in northeast Japan -- an aftershock of the huge March 11 quake -- while comments by the head of the European Central Bank saw the euro retreat from 14-month highs.
(Reuters, April 8, 2011)