News Headline Summary

Japanese finance minister Aso says Japan is to buy ESM bonds using foreign exchange reserves

Says:

- ESM purchases will help to stabilizing JPY.
- Government wants to draw up new written agreement with BoJ.

Reaction details:

- USD/JPY immediately spiked higher by 37 pips from 87.43 to 87.38, trades 87.69 (-10 pips) last.
- Nikkei 225 immediately moved up by 0.41%, trades 1,0557.21.
- As an immediate reaction, EUR/USD moved 17 pips to the upside from 1.3106 to 1.3121, trades 1.3134 (+17 pips) last.

Print 02:26, 08 Jan 2013 - Asian News - Source: Newswires