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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 freelyJapan’s economic, price uncertainties remain highMust 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.

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