KPBN News

Tocom Rubber Prices Ended Lower on June 24 on Back of Brexit Decision



The Yen strengthened on the heels of the U.K.’s decision to leave the EU referendum held in Britain earlier today. The Brexit results spooked global stock and currency markets, raising overall concerns and boosting demand for safe haven assets such as the Yen.
A stronger Yen makes commodities priced in the currency relatively more expensive for foreign buyers. This results in a decline in demand for the commodities.