According to the Bank of Japan (BOJ), the Japanese central bank has bought 70.1 billion yen ($ 637.3 million) in exchange-traded funds (ETFs), its first purchase since April 21.
The BOJ’s move comes after Japan’s Topix index fell nearly 2.50% on Monday, posting its biggest decline since February.
Market reaction
USD / JPY stalled its rebound and fell back below 110.00 on the BOJ revelation, as the yen gained strength after the central bank came to the rescue of the local stock market.
The pair last stood at 109.94, shedding 0.22% on the day.
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