The yen appreciated vis-Ã -vis the U.S. dollar today as the greenback tested bids around the Â¥99.30 level and was capped around the Â¥100.85 level. Data released in Japan overnight saw the February current account surplus decline to 55.6% y/y to Â¥1.12 trillion. These data underscore the tremendous decline in Japan€™s foreign trade position over the past several months on account of the yen€™s relative strength and the decline in global final private demand. Other data released today saw March corporate bankruptcy cases up 7.9% y/y. The Nikkei 225 stock index lost 2.69% to close at Â¥8,595.01. U.S. dollar offers are cited around the Â¥104.15 level. The euro moved lower vis-Ã -vis the yen as the single currency tested bids around the Â¥130.95 level and was capped around the Â¥133.75 level. The British pound moved lower vis-Ã -vis the yen as sterling tested offers around the Â¥145.70 level while the Swiss franc moved lower vis-Ã -vis the yen and tested offers around the Â¥86.45 level. The Chinese yuan appreciated vis-Ã -vis the U.S. dollar today as the greenback closed at CNY 6.8320 in the over-the-counter market, down from CNY 6.8361.
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