BOJ bond buying data 2 February 2018
- Offers to buy JGB’s at fixed rate with unlimited amount 5-10yr
- Offers to buy at 0.110%
USDJPY jumps to 109.65 from 109.40.
The headline is more explosive than the fact. Yes, purchases are up in 5-10s but they’ve basically put themselves on the bid at 0.110%, and we haven’t traded there yet. They’re setting their stall out up there and asking the market “what do you want to do?”. That may limit gains in USDJPY.
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