The yen appreciated vis-Ã -vis the U.S. dollar today as the greenback tested bids around the Â¥100.05 level and was capped around the Â¥100.70 level. Data released in Japan overnight saw the March domestic corporate goods price index decline 0.2% m/m and 2.2% y/y. Industrial production and capacity utilization data will be released on Wednesday. There is a lot of talk among traders that the yen could enter a period of weakness over the coming months. The Nikkei 225 stock index lost 0.44% to close at Â¥8,924.43. 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¥148.65 level and was supported around the Â¥146.40 level. The British pound moved higher vis-Ã -vis the yen as sterling tested offers around the Â¥148.65 level while the Swiss franc moved higher vis-Ã -vis the yen and tested offers around the Â¥88.40 level. The Chinese yuan appreciated vis-Ã -vis the U.S. dollar today as the greenback closed at CNY 6.8318 in the over-the-counter market, down from CNY 6.8343. People€™s Bank of China reported this weekend that it will continue to provide liquidity to the financial markets and stimulate economic growth. Data released in China saw new yuan loans surge to CNY 1.89 trillion in March, above the CNY 1.0 trillion level for the third consecutive month.
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