The yen appreciated vis-Ã -vis the U.S. dollar today as the greenback tested bids around the Â¥98.55 level and was capped around the Â¥100.20 level. The pair continues to creep higher from this weekâ€™s low levels that had not been reached since 1995. Risk aversion has been lessening a little bit over the past couple of days as the U.S. dollar has regained some lost ground and commodities markets have been selling-off. Traders are still awaiting the next news from the Fukuda government as to who a compromise candidate may be to replace former Bank of Japan Governor Fukui, who retired yesterday. The Nikkei 225 stock index gained 2.48% to close at Â¥12,260.44. Dollar offers are cited around the Â¥102.05 level. The euro moved lower vis-Ã -vis the yen as the single currency tested bids around the Â¥152.40 level and was capped around the Â¥155.15 level. The British pound and Swiss franc came off vis-Ã -vis the yen as the crosses tested bids around the Â¥195.40 and Â¥97.50 levels, respectively. The Chinese yuan appreciated vis-Ã -vis the U.S. dollar as the greenback closed at CNY 7.0516 in the over-the-counter market, down from CNY 7.0630, the pairâ€™s lowest close since the yuan revaluation of July 2005. Peopleâ€™s Bank of China reported urban Chinese have a high dissatisfaction with the record high levels of current price levels.
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