The yen depreciated vis-Ã -vis the U.S. dollar today as the greenback tested offers around the Â¥99.75 level and was supported around the Â¥98.25 level. Japanese financial markets reopened overnight and risk appetite returned to the market ahead of the release of the U.S. banks€™ stress tests results. Japanese bank Mitsubishi UFJ Financial€™s share price soared 15.8% while Sumitomo Mitsui Financial€™s share prices escalated 12.3% following its announcement that it is purchasing Citigroup€™s Japanese securities business. The Nikkei 225 yesterday stock index gained 4.55% to close at Â¥9,385.70. 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¥133.55 level and was supported around the Â¥130.70 level. The British pound moved lower vis-Ã -vis the yen as sterling tested bids around the Â¥148.30 level while the Swiss franc moved higher vis-Ã -vis the yen and tested offers around the Â¥88.10 level. In Chinese news, the U.S. dollar appreciated vis-Ã -vis the Chinese yuan as the greenback closed at CNY 6.8220 in the over-the-counter market, up from CNY 6.8180.
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