Key TOCOM rubber futures rallied to a two-month high on Wednesday as a fall in the yen on hopes of more monetary easing inspired fund buying and helped the yen-based prices to break through above a psychological ceiling of 270 yen. The most-active Tokyo Commodity Exchange rubber contract for May delivery settled up 5.5 yen, or 2.1 percent, at 272 yen per kg.

The closing level was the day's high and the highest for any benchmark since October 10. The most active Shanghai rubber contract for May delivery closed up 135 yuan at 249,000 yuan per tonne. The front-month January contract on the SICOM in Singapore was last traded at 286.4 US cents per kg, up 1.7 cents.

Copyright Reuters, 2012