Yen Steadies, JGBs Trim Drop as Traders Weigh BOJ Hike, Bond Cut.

The Bank of Japan (BOJ) recently announced an interest rate hike and a reduction in bond purchases, causing the yen to fluctuate. While many traders anticipated the hike and the BOJ's intention to taper bond buying, some investors were disappointed that the central bank wasn't tapering debt purchases more aggressively. The BOJ raised its policy rate to around 0.25% and stated its determination to normalize policy. The decision was seen as a hawkish move, but the amount of quantitative tightening was less than expected. [Extracted from the article]