Japan’s Aso: We are placing higher priority on economic revival than fiscal reform now

Dhwani Mehta FXStreet

We are placing a higher priority on economic revival than fiscal reform now, said the Japanese Finance Minister Taro Aso on Tuesday.

Japan may be facing biggest-ever risk, aim to pass an extra budget soon, he added.

In the last hour, Japanese PM Shinzo Abe declared a state of emergency in seven prefectures for a month while the economic rescue plan is expected to announce in the coming days.

USD/JPY retakes 109.00

With the risk-on sentiment picking up pace in Europe, with the S&P 500 futures leaping nearly 3%, USD/JPY’s upside momentum received a fresh boost.

The spot trades at 109.07, still down 0.10% 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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