JPY marks a strong rise after the Bank of Japan cuts government bond purchases. The central bank has decided that purchases of 10 to 25-year bonds amount to 190 billion yen, compared with 200 billion. yen before. Investments in bonds maturing over 25 years will amount to 80 billion yen a month, compared with 90 billion yen previously.
As a result of the decision, the JPY rose 0.49% against the USD, and the Nikkei 225 was down on the opening. The bank has said that this is not a long-term solution and we can soon expect deeper cuts in the program for quantitative easing. Such steps will continue to have a positive impact on the yen, not excluding a short-term Nikkei 225 adjustment.
Source: Bloomberg Pro Terminal
Jr Trader Petar Milanov
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