USD/JPY pair is currently trading at 111.93, having clocked a 112.00 earlier today.
The Bank of Japan (BOJ) cut its purchases of bonds with maturities between 10 and 25 years to ¥160 billion, down ¥20 billion from the previous ¥180 billion.
The central bank has also trimmed purchases of bonds with maturities between 25 and 40 years to ¥40 billion from ¥50 billion previous.
The central bank's decision to trim bond purchases is a part of its routine operations to keep the benchmark yield near zero levels. The BOJ steps up purchases when there is upward pressure on yields and trims purchases when the yields are feeling the pull of gravity.
Source : Fxstreet