The yen depreciated vis-à-vis the U.S. dollar today as the greenback tested offers around the ¥97.15 level and was supported around the ¥96.35 level. Japanese financial markets were closed overnight and liquidity was reduced during the Asian session. Big drivers in the yen continue to be risk aversion and the global swine flu outbreak. Traders were less risk adverse overnight, particularly after European economic data printed stronger-than-expected. The Nikkei 225 yesterday stock index lost 2.67% to close at ¥8,493.77. U.S. dollar offers are cited around the ¥104.15 level. The euro moved higher vis-à-vis the yen as the single currency tested offers around the ¥128.65 level and was supported around the ¥126.60 level. The British pound moved higher vis-à-vis the yen as sterling tested offers around the ¥143.70 level while the Swiss franc moved higher vis-à-vis the yen and tested offers around the ¥85.40 level. The Chinese yuan appreciated vis-à-vis the U.S. dollar today as the greenback closed at CNY 6.8245 in the over-the-counter market, down from CNY 6.8270.