It was a reduction of $88mln (10 billion yen)-a very small amount in the big picture of central bank bond buying, but to some, a sign that Japan was thinking about shifting gears on its policy stance.
The Bank of Japan continued to keep monetary policy steady today, after it voted 8 - 1 to keep its short-term interest rate unchanged at -0.1%, but noted that inflation expectations had remained steady, which initially saw the country's currency gain.
It will also keep charging a negative interest rate on some accounts held by financial institutions at the BoJ, in a bid to prompt lending by commercial banks.
The move was widely expected by analysts, as was a decision to leave the 10-year yield-curve target unchanged, at 0%.
The nine-member board also kept its price forecasts that project inflation to hit 2 per cent around the fiscal year ending in March 2020.
USD/JPY fell from about 110.93 to a low of 110.56 on the decision as it looks like market is focusing a bit on the statement that the BOJ said "inflation expectations have been more or less unchanged and recently moving sideways".
The dollar eased against the yen on the tweaks to the inflation outlook, traders said.
The Bank of Japan has chose to maintain its massive easing measures at current levels, in a bid to meet the target of 2-percent inflation.
In its quarterly report on prices and economic activities, the BOJ again said "risks to prices are skewed to the downside" and "developments in prices continue to warrant careful attention".
Japan is enjoying stronger economic growth, including improving capital expenditure and exports, but inflation remains weak.
Such brightening global growth prospects pose fresh communication challenges for policymakers. The market consensus is now that the Bank of Japan will be the last major central bank to end the prevalent "cheap money" policy.
Core consumer prices rose for the 11th straight month in November and the percentage of households expecting inflation to accelerate hit a almost two-year high in January, adding to signs Japan may be emerging from two decades of deflation. It traded at 111.15 against the dollar as of 3:45 pm in Tokyo.
Like the monetary policy decision, the BoJ's quarterly Outlook for Economic Activity and Prices Report was equally as unexciting with the bank keeping its forecasts for GDP and core consumer price inflation unchanged from those previously offered in October a year ago.
"If rates are rising in the United States and Japan's economy is doing well, there will be some upward pressure on rates".