Yen Advances, JGBs Maintain Decline After BOJ Hike, Bond Cut.

The Bank of Japan's decision to raise interest rates and reduce bond purchases has led to an increase in the value of the yen and a decline in government bonds. The currency had already been rising in anticipation of the decision, and the BOJ's plan to taper bond buying is seen as more aggressive than expected. The yield on benchmark 10-year bonds rose, while the Topix stock index closed higher. The BOJ's move is considered one of its most hawkish, and the pressure on the yen will likely continue if the Federal Reserve does not indicate a rate cut in September. [Extracted from the article]