TOKYO, July 27 (Reuters) - The dollar trimmed some of its large gains made against the yen after Japan's finance ministry denied a report that it was mulling the launch of 50-year government bonds.
The dollar was up 1.1 percent at 105.83 yen JPY= after going as high as 106.54 on reports that Japan was considering issuing 50-year bonds and would announce a 27 trillion yen ($255.08 billion) fiscal package.
"It's not true we are considering issuing 50-year bonds," the ministry's department overseeing debt issuance told Reuters on Wednesday. longest debt maturities Japan currently issues are 40-year bonds.
($1 = 105.8500 yen)