July 27, 2018 / 5:22 AM / 5 months ago

Dollar trims losses vs yen after BOJ's special bond-buying operation

TOKYO, July 27 (Reuters) - The dollar trimmed its losses against the yen on Friday after the Bank of Japan conducted a special government bond-buying operation to arrest a rise in long-term yields.

The dollar was down 0.1 percent at 111.095 yen, pulling ahead from an intraday low of 110.92.

The BOJ on Friday offered to buy an unlimited amount of 10-year Japanese government bonds (JGBs), after the yield on the maturity rose to a one-year high of 0.105 percent.

The uptick in JGB yields this week has weighed on dollar/yen, as it came amid speculation that the BOJ may tweak its accommodative monetary policy to make it more sustainable.

Reporting by the Tokyo markets team Editing by Shri Navaratnam

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