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Japan Faces Down Market Testing Limits of Yield Curve Control

  • Yen rises as finance minister signals concerns over slide
  • BOJ buys $4.8 billion of bonds to defend yield curve control
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WATCH: The Bank of Japan intervened in the market by conducting two unlimited purchase operations.Source: Bloomberg
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Japanese officials beat back market speculation on all sides, striving to keep a lid on borrowing costs while containing a selloff in the yen.

As the Bank of Japan showed its determination to cap bond yields with a pledge of unlimited purchases, government officials signaled concerns over the currency’s recent decline on Tuesday.