BOJ buys JPY70.1 billion in ETFs, first purchase since April

Dhwani Mehta FXStreet

According to the Bank of Japan (BOJ) disclosure, the Japanese central bank purchases JPY70.1 billion ($637.3 million) worth of exchange-traded funds (ETF), its first purchase since April 21.

The BOJ’s move comes after Japan's Topix fell nearly 2.50% on Monday, recording its biggest drop since February.

Read: Asian Stock Market: Japan’s Nikkei 225 leads the bears as US T-bond yields slump

Market reaction

USD/JPY stalled its rebound and fell back below 110.00 on the BOJ’s disclosure, as the yen gained strength after the central bank comes to the rescue of the local stock market.

The spot was last seen trading at 109.94, down 0.22% on the day.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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