The yen depreciated vis-Ã -vis the U.S. dollar today as the greenback tested offers around the Â¥107.60 level and was supported around the Â¥106.35 level. Data released in Japan overnight saw November average monthly cash earnings increase 0.1% y/y while December department store sales were off 2.3% y/y. Also, December consumer confidence receded to its lowest level in more than four years, printing at 38.0. Finance minister Nukaga today reported The Japanese economy continues recovering despite some weakness. on the other hand, it's necessary to pay attention to higher crude oil prices and overseas economic moves. The government will keep making every effort to maintain economic growth led by the private sector through price stability in concert with the Bank of Japan. The government today kept its assessment of the overall economy unchanged for the fourteenth consecutive month. The Nikkei 225 stock index gained 0.56% to close at Â¥13,861.29. Dollar bids are cited around the Â¥104.20 level. The euro moved higher vis-Ã -vis the yen as the single currency tested offers around the Â¥157.80 level and was supported around the Â¥155.70 level. The British pound weakened vis-Ã -vis the yen as the crosses tested bids around the Â¥208.40 level while the Swiss franc appreciated vis-Ã -vis the yen and tested offers around the Â¥97.75 level. In Chinese news, the U.S. dollar depreciated vis-Ã -vis the yuan as the greenback closed at CNY 7.2418 in the over-the-counter market, down from CNY 7.2485.
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