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Very modest JPY strength noted on the back of...>

YEN
YEN: Very modest JPY strength noted on the back of the latest tweaks to the BoJ
Rinban operations.
- The bank trimmed the size of its 10-25 Year JGB purchases by Y20bn, to Y160bn
(the last tweak to purchases across these maturities saw a Y20bn reduction back
on February 12), and also cut the size of its 25+ Year purchases by Y10bn, to
Y40bn, in the first reduction in purchases in that particular bucket since
September 2018.
- JPY crosses remain in tight ranges. USD/JPY last 6 pips lower at Y111.91,
EUR/JPY last 3 pips higher on the day at Y125.77, with AUD/JPY 6 pips lower at
Y79.99.
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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