BOJ governor Ueda: It is important to reduce JGB purchases in a predictable manner

  • Decision to reduce JGB purchases is to ensure long-term yields are formed more freely
  • Japan’s economic, price uncertainties remain high
  • Must pay due attention to financial, FX markets

As a reminder to their decision earlier, the announcement was made that they will formulate a detailed plan to reduce bond buying in July. Many market participants expected them to already have had that this meeting. Hence, the labelling of a more dovish take by the BOJ today. USD/JPY is keeping higher by 0.7%, just above 158.00 for now.

This article was written by Justin Low at www.forexlive.com. Source