The yen depreciated vis-Ã -vis the U.S. dollar today as the greenback tested offers around the Â¥113.40 level and was supported around the Â¥112.20 level. The pair rocketed higher to its strongest showing since 7 November and stops were hit above the Â¥112.60 level, representing the 61.8% retracement of the move from Â¥115.90 to Â¥107.20. Data released in Japan overnight saw the December quarterly tankan survey post disappointing results with the index of sentiment among large manufacturers fall to +19 from +23 in September, the first decline in three quarters. This was also below forecasts and most traders believe Bank of Japan will not change interest rates next week when its Policy Board convenes. The big question on traders' minds is whether or not the central bank will downgrade its assessment of the economy in its monthly report. The Nikkei 225 stock index lost 0.14% to close at Â¥15,514.51. Dollar bids are cited around the Â¥110.70 level. The euro came off vis-Ã -vis the yen as the single currency tested bids around the Â¥163.25 level and was capped around the Â¥164.65 level. The British pound and Swiss franc weakened vis-Ã -vis the yen as the crosses tested bids around the Â¥228.30 and Â¥98.00 levels, respectively. The Chinese yuan depreciated vis-Ã -vis the U.S. dollar as the greenback closed at CNY 7.3720 in the over-the-counter market, up from CNY 7.3692. Data released in China today saw urban fixed-asset investment up 26.8% between January and November.
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