The yen depreciated vis-à-vis the U.S. dollar today as the greenback tested offers around the ¥92.45 level and was supported around the ¥91.60 level. Data released in Japan today saw March consumer confidence print at 41.0, up from the prior reading of 40.0, while March Tokyo department store sales improved to -5.1% y/y from the prior reading of -6.5% y/y. Other data saw March Nationwide department store sales improve to -3.5% y/y. February industry index data will be released overnight followed by March machine tool orders and March convenience store sales. The Nikkei 225 stock index lost 1.74% to close at ¥10,908.77. U.S. dollar offers are cited around the ¥96.85 level. The euro moved higher vis-à-vis the yen as the single currency tested offers around the ¥124.65 level and was supported around the ¥123.15 level. The British pound moved higher vis-à-vis the yen as sterling tested offers around the ¥141.75 level while the Swiss franc moved higher vis-à-vis the yen and tested offers around the ¥86.95 level. In Chinese news, the U.S. dollar appreciated vis-à-vis the Chinese yuan as the greenback closed at CNY 6.8275 in the over-the-counter market, up from CNY 6.8255. China's currency regulator today noted that China's capital account surplus expanded to US$ 144.8 billion in 2009, up from US$ 19 billion in 2008. The perception of higher interest rates in China is likely to fuel more China-bound investment capital. Many traders believe China will revalue its yuan's trading band imminently, possibly by widening its trading band by up to 3%.