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USD/JPY Falters as BoJ Said to Seek Exit for ETF Buying

JPY
  • USD/JPY slips slightly before stabilising as Bloomberg cite sources in reporting that the Bank of Japan are said to be mulling ending all their ETF buys if their price goal is in sight, however are likely to keep buying bonds to ensure stable markets.
  • USD/JPY faded slightly on the headline, dropping to 147.72 before stabilising - as report adds to evidence that BoJ are coming closer to normalising policy in the imminent future.
  • No massive surprise that ETF buys would be phased out (facility was only used three times last year) and a source in the report states "The market is likely already used to the central bank refraining from buying, the people said."
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