Bank of Japan (BOJ), on Monday, increased purchases of Japanese government bonds (JGBs) maturing in 5-10 years to 420 billion yen from the previous purchases worth 400 billion yen.
The uptick in purchases is part of routine operations and does not represent additional easing.
The BOJ has been running a yield curve control since 2016. Under the program, the central bank adjusts purchases of bonds as and when needed to keep the 10-year yield around 0%.
USD/JPY is currently trading near 107.65, representing a 0.17% gain on the day. The yen is being offered against most majors as stocks are flashing green despite the lingering coronavirus concerns.
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