The yen depreciated vis-Ã -vis the U.S. dollar today as the greenback tested offers around the Â¥96.70 level and was supported around the Â¥95.60 level. Bank of Japan and the Japanese government upgraded their assessments of the Japanese economy, lending credence to economists€™ view the economy may have already bottomed out. There are tentative signs that industrial production and the export sector are improving. The central bank is expected to keep its overnight call rate target unchanged at 0.10% for the foreseeable future. The Nikkei 225 stock index lost 1.39% to close at Â¥9,703.72. 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¥135.00 figure and was supported around the Â¥133.00 figure. The British pound moved higher vis-Ã -vis the yen as sterling tested offers around the Â¥158.45 level while the Swiss franc moved higher vis-Ã -vis the yen and tested offers around the Â¥89.35 level. In Chinese news, the U.S. dollar weakened vis-Ã -vis the Chinese yuan as the greenback closed at CNY 6.8337 in the over-the-counter market, down from CNY 6.8360.
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