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According to a statement posted on its website, the Bank of Japan (BOJ) purchased a record high of 120.4 billion yen (922.82 million pounds) of Japanese stock exchange-traded funds (ETFs) on Tuesday, per Reuters.

Tuesday’s saw an increase of 20.2 billion yen it bought a day before.

The BOJ said at its monetary policy on Monday, it would increase ETF purchases to up to JPY 12 trillion per year.

USD/JPY reaction

USD/JPY faced rejection once again near 107.00, now wavering in a familiar range above mid-106s, as S&P 500 futures trim a major part of intraday recovery gains.