The yen depreciated vis-Ã -vis the U.S. dollar today as the greenback tested offers around the Â¥99.50 level and was supported around the Â¥98.15 level. Bank of Japan ramped up its purchase of corporate bond purchases overnight, part of the central bank€™s strategy to steer market interest rates lower and reduce credit strains in the capital market. BoJ Policy Board member Suda spoke today to business leaders. Q4 capital spending data will be released overnight. The Nikkei 225 stock index gained 0.85% to close at Â¥7,290.96. U.S. dollar offers are cited around the Â¥104.15 level. The euro moved higher vis-Ã -vis the yen as the single currency tested offers around the Â¥125.60 level and was supported around the Â¥122.35 level. The British pound moved higher vis-Ã -vis the yen as sterling tested offers around the Â¥140.70 level while the Swiss franc moved higher vis-Ã -vis the yen and tested bids around the Â¥84.85 level. The Chinese yuan depreciated vis-Ã -vis the U.S. dollar as the greenback closed at CNY 6.8434 in the over-the-counter market, up from CNY 6.8413. Data released in China overnight saw the February Purchasing Managers Index improve to 49.0 in February from 45.3 in January. The Chinese media reported China is considering an additional fiscal stimulus to shore up the domestic economy.
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