Japan PM Suga: Will instruct cabinet to compile new extra budget - Jiji

Dhwani Mehta FXStreet

Japan’s Prime Minister (PM) Yoshihide Suga said that he will instruct his cabinet to compile the third extra budget at Tuesday’s cabinet meeting, per Jiji news outlet.

He said that he wants to come up with steps to revive Japan’s economy, adding that he is ready to deploy all means available in a timely fashion.

Further, Suga said that he is holding the highest sense of vigilance against the coronavirus epidemic.

Separately, the Japanese government's top economic council's private-sector members said that govt should formulate a supplementary budget of sufficient size and draw up a package of steps to support the economy by the year-end.

Market reaction

USD/JPY’s rebound from eight-month lows of 103.18 gathers pace in the European session, tracking the recovery in the US dollar across the board.

At the press time, the spot rises 0.33% to 103.69, fresh daily highs.

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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