The yen depreciated vis-à-vis the U.S. dollar today as the greenback tested offers around the ¥99.65 level and was supported around the ¥98.15 level. Data released in Japan overnight saw February revised industrial output decline 9.4% m/m, unchanged from the preliminary reading. Bank of Japan is expected to continue its large scale asset purchases as part of its quantitative easing framework. The Nikkei 225 stock index lost 1.13% to close at ¥8,742.96. U.S. dollar offers are cited around the ¥104.15 level. The euro moved lower vis-à-vis the yen as the single currency tested bids around the ¥129.90 level and was capped around the ¥131.80 level. The British pound moved higher vis-à-vis the yen as sterling tested offers around the ¥149.25 level while the Swiss franc moved lower vis-à-vis the yen and tested bids around the ¥86.05 level. The Chinese yuan appreciated vis-à-vis the U.S. dollar today as the greenback closed at CNY 6.8200 in the over-the-counter market, down from CNY 6.8320.