Dollar falls to session low against yen

The dollar dropped to a session low of 112.515 yen on Tuesday, down 0.5 per cent on the day, after the Bank of Japan trimmed the amount of its buying of Japanese government bonds.

The BOJ reduced its purchases of JGBs with 10 to 25 years left to maturity and those with 25 to 40 years to maturity by 10 billion yen ($88.39 million) each, from its previous operations for those zones, reports Reuters.

While the central bank’s operational tweaks do not always have an impact on foreign exchange markets, dealers said the timing of the move suggested some players had used it as an excuse to sell the dollar and the euro against the yen.