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Yen Offered As European Activity Picks Up

JPY

JPY crosses catch a fresh bid as Europe & London start filing in and react to the BoJ decision (no change in benchmark monetary policy settings). Comments from BoJ Governor Kuroda are also helping that direction of travel, as he pushed back against the idea of a further widening of the Bank's YCC band, while suggesting that he doesn't expect 10-Year JGB yields to continue to print above 0.50% (the benchmark measure hovered around 0.41% in late Tokyo trade), insisting that YCC is sustainable. USD/JPY, EUR/JPY & AUD/JPY still operate a little shy of their respective session peaks.

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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