The yen depreciated vis-Ã -vis the U.S. dollar today as the greenback tested offers around the Â¥114.30 level and was supported around the Â¥113.95 level. Japanese financial markets were closed overnight and will reopen tonight. Liquidity was scarce ahead of the Christmas holiday. Japanese financial data will be the majority of data released through Thursday this week. Most traders do not expect Bank of Japanâ€™s Policy Board to raise the overnight call rate from 0.50% for a few months. Dollar bids are cited around the Â¥112.50/ Â¥111.75 levels. The euro moved higher vis-Ã -vis the yen as the single currency tested offers around the Â¥164.60 level and was supported around the Â¥163.75 level. The British pound and Swiss franc appreciated vis-Ã -vis the yen as the crosses tested offers around the Â¥226.45 and Â¥98.90 levels, respectively. The Chinese yuan gained ground vis-Ã -vis the U.S. dollar as the greenback closed at CNY 7.3475 in the over-the-counter market, down from CNY 7.3670 and the pairâ€™s lowest closing low since the yuan revaluation of July 2005.
Join the Discussion