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*** The JPY crosses and JGBs, as well as U.S....>

BOJ
BOJ: *** The JPY crosses and JGBs, as well as U.S. Tsys are coming under
pressure after the BOJ failed to offer a fixed rate operation to buy an
unlimited amount of 10-Year JGBs earlier today (with early chatter pointing to
such an offer). USD/JPY last trades around session lows ~Y111.00, with JGB
futures at lows and 10-Year JGB cash yields last at 0.112%, above the typical
fixed rate the BOJ offers on operations (0.11%). This adds further credence to
recent reports/analyst calls that the BOJ may adjust the upper bound of its
yield target corridor for 10-Year JGBs at its MonPol decision next week.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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