December 13, 2013 / 2:51 AM / in 4 years

JGBs drop on weaker yen, 10-yr yield matches 2-month high

TOKYO, Dec 13 (IFR) - Japanese government bond prices fell across the curve on Friday, with 7- to 10-year maturities hit most heavily, following a fall in the yen to six-month lows against the dollar.

Selling of the 10-year sector by a few domestic banks helped to push up the benchmark 10-year yield 2.0 basis points to 0.675 percent, matching a two-month high hit earlier this month.

The five-year yield also rose 1.0 basis point to 0.210 percent. March JGB futures fell 0.19 point to 143.95. The fall in JGBs came despite the Bank of Japan buying bonds with maturities of up to 10 years.

The dollar rose to as high as 103.66 yen, near its May peak of 103.74 yen, helping to lift Japanese shares to the detriment of JGBs.

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