The yen depreciated vis-à-vis the U.S. dollar today as the greenback tested offers around the ¥98.10 level and was supported around the ¥97.10 level. The yen was given across the board as the global equities rally continued and investors moved into higher-yielding currencies. Data released in Japan overnight saw the May domestic corporate goods price index decline 0.4% m/m and 5.4% y/y. Also, April core machinery orders were off 5.4% m/m, the second consecutive monthly decline, and were off 32.8% y/y. The Nikkei 225 stock index climbed 2.09% to close at ¥9,991.49. 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 ¥138.35 level and was supported around the ¥136.65 level. The British pound moved higher vis-à-vis the yen as sterling tested offers around the ¥159.15 level while the Swiss franc moved higher vis-à-vis the yen and tested offers around the ¥90.45 level. In Chinese news, the U.S. dollar weakened vis-à-vis the Chinese yuan as the greenback closed at CNY 6.8323 in the over-the-counter market, down from CNY 6.8344. Data released in China overnight saw May consumer prices off 0.3% m/m and 1.4% y/y while May producer prices were off 7.2%.