US bond issuance plans matter as much as Fed's decision [Video]

The Bank of Japan (BoJ) kept interest rates unchanged, redefined the 1% limit on the 10-year JGBP yield as a loose ‘upper bound’ and scrapped its promise to keep that level intact.

Alas, the move was less aggressive than expected by the market and sent the yen tumbling. But the spike in the 10-year JGB yield to almost 1% should’ve pulled the pair lower – especially after the news that the US Treasury will be borrowing less money in the last three months of this year.

The Federal Reserve starts its two-day policy meeting today, and is expected to keep rates unchanged.

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