The yen appreciated vis-Ã -vis the U.S. dollar today as the greenback tested bids around the Â¥100.25 level and was capped around the Â¥100.50 level. Bank of Japan Policy Board meeting minutes released overnight revealed policymakers discussed BoJ€™s decision to increase its share of Japanese government bonds to Â¥1.8 trillion per month. Some policymakers noted economic growth expectations may need to be downwardly revised. Some negative Japanese sentiment emerged overnight after it was learned Sumitomo Mitsui Financial Group is forecasting a loss and will raise Â¥800 billion in equity. Data released in Japan overnight saw the M2 + CD money supply climb 2.2% in March while March bank lending growth was up 3.0%. The Nikkei 225 stock index climbed 0.54% to close at Â¥8,964.11. 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¥131.70 level and was capped around the Â¥132.00 figure. The British pound moved lower vis-Ã -vis the yen as sterling tested bids around the Â¥146.75 level while the Swiss franc moved lower vis-Ã -vis the yen and tested bids around the Â¥86.50 level. The Chinese yuan depreciated vis-Ã -vis the U.S. dollar today as the greenback closed at CNY 6.8343 in the over-the-counter market, up from CNY 6.8340. Data released in China today saw March exports off 17.1% y/y while imports were off 25.1% y/y taking the March trade surplus to US$ 18.56 billion.
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