The yen depreciated marginally vis-à-vis the U.S. dollar today as the greenback tested offers around the ¥103.50 level and was supported around the ¥103.10 level.


Today’s range was very limited on account of market holidays in the U.K. and U.S. Traders await the release of nationwide consumer price inflation data for April and Tokyo-area May inflation data on Friday. The government is not expected to submit a new candidate this week for the vacant Bank of Japan Deputy Governor position.


The BoJ is expected to keep the overnight call rate unchanged at 0.50% for the foreseeable future. The Nikkei 225 stock index lost 2.30% to close at ¥13,690.19. Dollar bids are cited around the ¥103.00/ 101.35 levels. The euro moved higher vis-à-vis the yen as the single currency tested offers around the ¥163.25 level and was supported around the ¥162.75 level.


The British pound and Swiss franc moved higher vis-à-vis the yen as the crosses tested offers around the ¥205.15 and ¥101.00 levels, respectively. The Chinese yuan appreciated vis-à-vis the U.S. dollar as the greenback closed at CNY 6.9360 in the over-the-counter market.