In December the Bank of Japan raised its tolerance threshold for the 10 year Japanese Government Bond yield from 0.25% to 0.5%
Its trading above there now, 0.53%. This'll prompt BOJ intervention (to buy 10yr JGBs).
The yield on the 20 year has risen to its higher since June of 2014, circa 1.45%.
USD/JPY has dropped following the news from Japan yesterday on:
- Report - The BOJ will review the side effects of easy policy next week
- ForexLive Asia-Pacific FX news wrap: USD/JPY dumps on BOJ review report
and the US CPI report overnight:
