The Japanese yen weakened against other major currencies in the Asian session on Friday, as the nation’s central bank announced to buy debt. Meanwhile, Asian markets traded higher, though gains are modest following the mixed cues from Wall Street and higher crude oil prices. Some of the markets are closed for the Lunar New Year holidays.
The Bank of Japan announced to buy 450 billion Yen of 5 to 10 year government debt, from 410 billion Yen. Traders fears eased that the central bank is likely to provide some hints on tapering at its policy decision to be held next week.
Investors are also treading cautiously after the U.S.-Mexico crisis deepened. Amid a dispute over who will pay for a wall on the U.S.-Mexico border, Mexican President Enrique Pena Nieto pulled out of a planned meeting next week with U.S. President Donald Trump.
Meanwhile, crude for March delivery is currently up by…