BOJ’s Kuroda: Market trust in JGB is being maintained

The market trust in Japanese government bonds (JGB) is being maintained, said the Bank of Japan (BOJ) Governor Haruhiko Kuroda said in a speech on Monday.

Kuroda said that “the BOJ will prevent wider movements in long-term interest rates from affecting stock prices and that the bank can prevent a sharp rise in the yield through fixed-rate purchase operations for consecutive days,” per MNI.

Earlier on, the Governor said that the central bank should not change its 2% price target.

USD/JPY remains below 109.00

USD/JPY remains pressured below 109.00 although off the daily lows of 108.59. The yen remains underpinned by the risk-off market mood amid concerns that the Turkish central bank Chief’s ouster could have a negative impact on the financial markets.