Draft: Japan to unveil extra budget with $312B spending to tackle COVID-19 - Reuters

Dhwani Mehta FXStreet

Japan's government is expected to announce on Friday its first extra budget worth 36 trillion yen ($312.04 billion) for this fiscal year ending March, Reuters reports, citing a draft document.

Japan’s government will issue additional new bonds worth 22 trillion yen in the FY2021/22 extra budget, the draft noted.

Market reaction

USD/JPY is off the multi-year highs of 115.51, currently trading flat at 115.36. The pair remains depressed amid a pullback in the US dollar, despite the hawkish Fedspeak.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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