A senior Bank of Japan (BOJ) official said on Tuesday, “we don't have any preset idea now on how long BOJ will keep buying exchange traded funds (ETFs) at 12-trln-yen per year pace.”
“Will do so for as long as needed with eye on market moves.”
“Various steps BOJ has taken so far to combat pandemic, including paced-up ETF buying, are all temporary measures.”
“BOJ holds roughly 5-6% of Japan shares via its ETF buying, which has book value of around 30 trln yen as of end-March.”
USD/JPY under pressure amid risk-off
Broad risk-aversion is knocking-off USD/JPY below 107.50, extending its decline from near 107.70 region. The above comments fail to have any impact on the yen market.
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