Japan’s Aso: Will consider compiling extra budget if needed towards coronavirus economic response

Dhwani Mehta FXStreet

Japanese Finance Minister Aso came out on the wires in the last minutes, via Reuters, noting that the government will consider compiling extra budget if needed to respond to the coronavirus impact.

Separately, Tokyo Olympics 2020 Director-General Toshiro Muto said that they are not considering to cancel the Olympics at all, adding that “canceling would be bad for athletes and stakeholders involved.”

USD/JPY reaction

Amid growing global economic recession fears, the safe-haven yen continues to extend gains against the greenback, with USD/JPY now printing daily lows near 109.70.

The spot hit as high as 111.26 before crumbling down in sync with the global stocks and US dollar after risk-off gripped Asia on the US Senate economic package bill delay.

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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