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The Bank of Japan (BOJ) announced on Tuesday, it offers to buy JPY 100bn worth of Japanese Government Bonds (JGBs) of 3-5 years and 5-10 years maturity.

This comes after the central bank increased the pace of the ETF purchases to tackle the coronavirus-led economic fallout.

USD/JPY reaction

USD/JPY extends its rebound above 107.00 amid a sharp recovery in the risk sentiment, with S&P 500 futures up nearly 4%.