Forex: JPY finds buyers on Maehara comments
FXstreet.com (San Francisco) - JPY has found some light bids in thin trading in Asia, stimulated by comments from Japan's current Economics Minister, Seiji Maehara, who said its 'obvious' that the central bank should not directly buy government bonds, according to a report by Eamonn Sheridan. This sentiment directly contradicts the 'easing unlimited' expectations from the BoJ that the market has been pricing in for the last week. USDJPY is now trading at its session low of 82.35 vs. 82.50 in late US; EURJPY is retreating from its multi-month high (106.25) hit in earlier trade, now making fresh intraday lows near 105.70. The same picture is seen for AUDJPY and NZDJPY, last at 85.50 and 67.15, respectively.