June 14, 2024 06:48 GMT
Ueda flags Substantial Cuts to JGB Purchases
BOJ
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BoJ Governor Ueda points to a substantial cut in bond purchases, with that move set to be enacted after the July policy meeting.
- That comment allows JGBs and XXX/JPY to move lower, but the moves are relatively shallow at this stage.
- USD/JPY back below 158.00 to 157.95 at typing, off knee-jerk lows, with demand for core global FI markets still underpinned, impacting the other leg of related yield spreads.
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