BOJ cuts purchases of JGBs maturing in 5-10 years

The news is crossing wires vi Reuters that Bank of Japan (BOJ) has reduced the purchases of Japanese Government Bond (JGBs) maturing in 5-10 years to JPY 430 billion from the previous JPY 450 billion.

The move has failed to put a strong bid under the Japanese Yen. As of writing, the USD/JPY is attempting a break above 109.00.