Rubber falls as yen rises

BANGKOK - Rubber dropped for a second day as a stronger Japanese currency reduced the appeal of yen-denominated contracts and increased output during the low-production season damped interest.

Futures in Tokyo fell as much as 1.1 percent, extending a 2.4 percent loss on Tuesday. Prices have gained for the past three weeks after reaching this year's peak of 306 yen per kg ($3,450 a metric ton) on Jan 15, which was the highest level since September 2008.

Rubber for August delivery, the most-active contract, lost as much as 3.1 yen to 287.3 yen before settling at 289.7 yen on the Tokyo Commodity Exchange.