The yen depreciated vis-à-vis the U.S. dollar today as the greenback tested offers around the ¥94.95 level and was supported around the ¥92.75 level. The yen was given across the board as traders priced in additional economic weakness in Japan with most economists estimating a very weak end to the fiscal year at the end of next month. Many Japanese economic data will be released on Friday including retail sales, consumer price inflation, and industrial production data. The Nikkei 225 stock index lost 0.54% to close at ¥7,376.16. U.S. dollar offers are cited around the ¥104.15 level. The euro moved higher vis-à-vis the yen as the single currency tested offers around the ¥121.90 level and was supported around the ¥119.05 level. The British pound moved higher vis-à-vis the yen as sterling tested offers around the ¥139.10 level while the Swiss franc moved higher vis-à-vis the yen and tested offers around the ¥81.80 level. The Chinese yuan appreciated vis-à-vis the U.S. dollar as the greenback closed at CNY 6.8355 in the over-the-counter market, down from CNY 6.8367.
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