Japan to buy ESM bonds to stabilize the yen

FXstreet.com (Barcelona) - The big story in the Asian session is the announcement by Japan of its commitment to purchase ESM bonds to help stabilize Europe, Japan Finance Minister Taro Aso told reporters.

The decision-maker added that Japan will buy European ESM bonds using FX reserves, although amount of bond buys is undecided at this point, he said. In another Reuters headline, Mr. Aso said the buys will start as soon as today.

Meanwhile, the Economic Revival Minister Amari said that upcoming BoJ stimulus will be "significant". After the news broke out, the Euro was bid to the boots over 30+ pips to session highs vs most competitors.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.