Japan Finance Minister Aso: Not yet considering additional economic measures to respond to coronavirus outbreak
|Japan Finance Minister, Aso has crossed the wires and stat that they are not yet considering additional economic measures to respond to coronavirus outbreak.
Key notes
- Not yet considering additional economic measures to respond to the coronavirus outbreak.
- No comment on fx and market moves.
- Closely monitoring market moves.
- Monitoring the situation closely.
- Measures are needed to keep growth sustainable.
FX Implications
Overnight, the yen was picking up a bid following a number of sessions being one of the worst performers across the G10's despite the risk-off theme in markets. This raised suspicion that the yen can no longer be regarded as the ultimate safe-haven currency.
However, we have witnessed a huge exodus from stocks and pension funds will likely have been pulling out of the US and the US dollar.
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