The yen depreciated vis-Ã -vis the U.S. dollar today as the greenback tested offers around the Â¥95.30 level and was supported around the Â¥94.35 level. The big news in Japan today was a story that the Democratic Party of Japan € vying for leadership against the long-incumbent Liberal Democratic Party of Japan € may press Bank of Japan to purchase more Japanese government bonds as part of Japan€™s broad quantitative easing framework. The DPJ is likely to gain power after the 30 August election and this could result in a surge in yields. The Nikkei 225 stock index gained 0.1% to close at Â¥10,284.96. 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¥134.80 level and was supported around the Â¥132.80 level. The British pound moved higher vis-Ã -vis the yen as sterling tested offers around the Â¥157.05 level while the Swiss franc moved higher vis-Ã -vis the yen and tested offers around the Â¥88.55 level. In Chinese news, the U.S. dollar lost ground vis-Ã -vis the Chinese yuan as the greenback closed at CNY 6.8309 in the over-the-counter market, down from CNY 6.8332.