The yen appreciated vis-à-vis the U.S. dollar today as the greenback tested bids around the ¥90.35 level and was capped around the ¥91.10 level. Bank of Japan released its quarterly regional report overnight and noted Signs of picking up had appeared throughout the economy, although regional differences remained. The BoJ last week lifted its assessment of the economy for the second consecutive month. Minutes from the BoJ Policy Board's 16-17 September meeting were released overnight in which policymakers concluded A few members were of the view that the positive effects these measures could producer were on the wane. The central bank is likely to not renew some of its emergency spending programs when they expire at the end of the month. Data released in Japan overnight saw the August tertiary activity index rise 0.3%. The Nikkei 225 stock index lost 0.21% to close at ¥10,236.51. U.S. dollar offers are cited around the ¥94.75 level. The euro moved higher vis-à-vis the yen as the single currency tested offers around the ¥135.90 level and was supported around the ¥134.75 level. The British pound moved higher vis-à-vis the yen as sterling tested offers around the ¥149.10 level while the Swiss franc moved higher vis-à-vis the yen and tested offers around the ¥89.70 level. In Chinese news, the U.S. dollar strengthened vis-à-vis the Chinese yuan as the greenback closed at CNY 6.8244 in the over-the-counter market, up from CNY 6.8243. The Chinese government reported it will reduce industrial overcapacity. The U.S. Treasury last week stopped short of characterizing China as a manipulator of its currency but said China exhibits a lack of flexibility on the yuan. China's State Administration of Foreign Exchange last week reported it does not anticipate any upward pressure on the yuan in the near future and noted it expects China's international balance of payments and net capital inflows to continue to expand.