Breaking: USD/JPY spikes above 108 on reports saying BoJ will remove bond buying limit

The USD/JPY pair gained nearly 60 pips in a matter of minutes after a report published on Nikkei claimed that the Bank of Japan was planning to remove the bond-buying limit and discuss unlimited bong-buying at its next monetary policy meeting.

As of writing, the pair, which touched a session high of 108.04, was trading at 107.86, adding 0.13% on the day.