BOJ’s Kuroda: Fixed-rate JGB operations are effective way to counter sharp rise in bond yield

“Japan's economy yet to recover fully from pandemic's impact,” said Bank of Japan (BOJ) Governor Haruhiko Kuroda.

BOJ Boss Kuroda also mentioned, per Reuters, that (he) would increase Japanese Government Bond (JGB) buying or conduct fixed-rate operations if 10-year yields swing beyond the target range.

Before a few minutes, Japan’s Finance Minister Suzuki also crossed wires via Reuters.

Read: Japan’s Suzuki: BOJ has jurisdiction over how it exits easy policy

USD/JPY remains mildly bid

The news portrays the BOJ policymaker’s dovish bias, which in turn joins cautiously optimistic market sentiment to favor USD/JPY buyers around 115.50.

Read: USD/JPY stays firmer above 115.00 as yields extend latest rebound, Ukraine fears stretch