The yen appreciated vis-Ã -vis the U.S. dollar today as the greenback tested bids around the Â¥97.80 level and was capped around the Â¥98.55 level. Bank of Japan€™s Policy Board convened overnight to deliberate policy and is expected to keep its main overnight call rate target unchanged at 0.10%. The yen was up significantly across the board as risk aversion returned to the markets, directing U.S. equities prices lower out of the box. BoJ€™s interest rate decision is expected overnight and BoJ€™s monthly report will be released on Wednesday. The Nikkei 225 stock index lost 0.95% to close at Â¥10,039.67. 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¥134.90 level and was capped around the Â¥137.80 level. The British pound moved lower vis-Ã -vis the yen as sterling tested bids around the Â¥159.35 level while the Swiss franc moved lower vis-Ã -vis the yen and tested bids around the Â¥89.45 level. In Chinese news, the U.S. dollar rallied vis-Ã -vis the Chinese yuan as the greenback closed at CNY 6.8353 in the over-the-counter market, up from CNY 6.8323.
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