The yen appreciated vis-Ã -vis the U.S. dollar today as the greenback tested bids around the Â¥95.60 level and was capped around the Â¥96.75 level. Data released in Japan overnight saw March overall retail sales off 3.9% y/y, the seventh consecutive month of declines. Despite ongoing poor economic data, the yen continues to power higher on account of a worsening of the global swine flu contagion, an economic and health risk that risks becoming a global pandemic. The Nikkei 225 stock index lost 2.67% to close at Â¥8,493.77. 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¥124.35 level and was capped around the Â¥126.05 level. The British pound moved lower vis-Ã -vis the yen as sterling tested bids around the Â¥139.00 figure while the Swiss franc moved lower vis-Ã -vis the yen and tested bids around the Â¥82.65 level. The Chinese yuan appreciated vis-Ã -vis the U.S. dollar today as the greenback closed at CNY 6.8270 in the over-the-counter market, down from CNY 6.8275.
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