Bank of Japan Cuts Bond Purchases Third Time in June
- Ten-year bonds unchanged, yen lower after Friday’s reduction
- Separately, planned purchase ranges for July kept unchanged
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The Bank of Japan reduced debt purchases for a third time in June, taking advantage of the recent stability in bond yields and the yen.
The BOJ lowered buying in the five-to-10 year segment by 20 billion yen ($181 million) to 410 billion yen at a regular operation. The yen -- which has in the past shown a tendency to strengthen following a cut in purchases -- traded weaker on Friday. Benchmark 10-year bonds were unchanged.