Yen weakens, Japan stocks see-saw after BOJ stimulus exit
yen weakened while Japan's Nikkei share average swung between small gains and losses after the Bank of Japan on Tuesday announced an end to its long-running ultra-accommodative stimulus programmes, as widely expected.
The central bank ended its negative short-term interest rate policy (NIRP) and yield curve controls (YCC), as well as dropping purchases of risky assets, including exchange-traded funds (ETFs).
Local and international media, including Reuters, had been reporting over the past week of a likely end to most or all of the BOJ's stimulus programmes at this policy meeting.
The Nikkei was down 0.36% at 39,598.27, after initially extended losses from morning trading and then swinging to small gains.
The dollar was last up 0.35% at 149.67 yen, as traders sold the Japanese currency having largely priced in the decision.
Ten-year June JGB futures were up 0.13 points at 145.56. Cash bonds had yet to trade following the policy decision.
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