Japan PM Abe: Cannot cling on Prime Minister post if I am not feeling my best

Dhwani Mehta FXStreet

“I cannot cling on Prime Minister (PM) post if I am not feeling my best,” Japanese leader Shinzo Abe said in a scheduled press conference this Friday.

Additional comments

“My health started declining around the middle of last month.”

“Decided to step down due to illness and treatment procedures.”

“This was a very hard decision to make.”

“Apologises for quitting the post during the coronavirus pandemic.”

“Will fulfil responsibility until new PM approved.”

“Aim to boost coronavirus testing capacity to 200,000 tests per day by winter.”

“Plan to have COVID-19 patients with no or light symptoms stay at home or hotels to lessen burden on medical institutions.”

“Will tap emergency budget reserve to fund new virus responses, and implement them without delay.”

“Believe next leader will continue to work on fighting coronavirus.”

“Won't comment on specific names of possible successor.”

Earlier today, Japan’s ruling Liberal Democratic Party (LDP) lawmaker H. Seko officially confirmed Shinzo Abe's resignation as Prime Minister.

Separately, the Economy Ministry Yasutoshi Nishimura noted that it’s a great shame and surprise that PM Abe offered to resign.

USD/JPY attacks 106.00

USD/JPY flirts with lows at 106.00 after PM Abe confirmed about his resignation. Political uncertainty rises on the unexpected news, boosting the safe-haven appeal of the yen. The spot is down 0.50% on the day.

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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