Following the surprise policy move by the Bank of Japan (BoJ) on Tuesday, the central bank conducted unlimited bond buying for one-to-five-year tenors.

Also read: BoJ stands pat on monetary policy, USD/JPY slumps

Key takeaways

"BoJ offers to buy JPY600 billion (bln) worth of Japanese Government Bonds (JGBs):

JPY100bln 1-3 year.

JPY100bln 3-5 year..

JPY300bln 5-10 year.

JPY100bln 10-25 year."

Market reaction

USD/JPY fails to find any support from the BoJ operations, as it sinks 2.57% on the day to trade at 133.35, as of writing.