Japan ruling party's Nikai: Need JPY 10 trln extra budget - Jiji

Reuters reports the latest headlines carried by the Japanese Jiji press, citing Japanese senior ruling party official Toshihiro Nikai’s comments on the country’s stimulus plans.

NIkai said the government must compile a supplementary budget of around 10 trillion yen ($92 billion) for the current fiscal year.

The government plans to compile a stimulus package as soon as possible as a pre-emptive measure against heightening overseas risks, Japan’s PM Abe had hinted earlier this month.

• BOJ’s Kuroda: Japan economy sustaining momentum to hit BOJ’s price goal

USD/JPY is off the lows but remains on the back foot, as the anti-risk Yen benefits from the fresh US-China trade jitters. CNBC reported on Monday that China is pessimistic about agreeing a deal, which suggests a resolution to perhaps the biggest risk to the global economy remains elusive.