The Bank of Japan (BoJ) announced that it conducted bond-buying in its routine daily operation on Wednesday.
Key details
“BoJ Offers To Buy JPY1.90Tln Worth Of JGBs
JPY425Bln 1-3 Year
JPY500Bln 3-5 Year
JPY675Bln 5-10 Year
JPY300Bln 10-25 Year.”
This comes a couple of days ahead of the BoJ’s monetary policy decision, the final one for Governor Haruhiko Kuroda, as his term expires in early April.
Market reaction
USD/JPY is consolidating near three-month highs of 137.50, adding 0.17% on the day. The pair benefits from higher US Treasury bonds yields, as hawkish Federal Reserve rate hike expectations storm through the roof on Chair Jerome Powell’s testimony.
