Rubber close lower due to stronger ringgit
Rubber price closed lower today due to further strengthening of the ringgit against the US dollar, dealers said.
The downtrend was also caused by the lower opening at the Tokyo Commodity Exchange resulting from the stronger yen as investors wound back the size of an expected scaling back of US$85 billion monthly asset-buying programme by the US Federal Open Market Committee, they said.
"The negative sentiments were further triggered by the country’s
disappointing job data," they added.
At noon, the Malaysian Rubber Board's official physical price for tyre-grade SMR 20 fell 13 sen to close at 792.5 sen per kg while latex-in-bulk declined half-a-sen to 569 sen per kg.
The unofficial closing price for tyre-grade SMR 20 fell 12 sen to 790 sen per kg while latex-in-bulk erased two sen to 568 sen per kg.-- Bernama