Japan’s Kato: Asked banks to request cooperation from their clients on coronavirus countermeasures

Anil Panchal FXStreet

Japanese Chief Cabinet Secretary Katsunobu Kato said on Friday, per Reuters, “Have asked banks to request cooperation from their clients on coronavirus countermeasures.”

Additional comments

Will respond flexibly through consultation with PM Suga, when asked about stimulus package.

I did not mean to say I wanted banks to limit loans to restaurants.

It's purely a request, when asked about government's requests to financial institutions.

Requests to banks are not meant to exert pressure on restaurants, other places already struggling under the burden of lockdowns caused by covid-19 pandemic.

USD/JPY inches closer to regain 110.00…

As the comments portray covid fears among Japanese policymakers, like everywhere else, the US dollar’s safe-haven allure propels USD/JPY towards 110.00, up 0.17% around 109.90 by the press time.

Read: USD/JPY Price Analysis: 110.00/50 is a critical supply area

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

EUR/USD keeps the bid bias just over 1.1800

EUR/USD has started the week on a positive foot, hovering around the 1.1800 region in the latter part of Monday’s session. The pair’s recovery comes on the back of a decent decline in the US Dollar, as investors keep their attention on the evolving US–EU trade relationship after President Trump’s announcement of sweeping global tariff hikes.

GBP/USD looks stuck around 1.3500 amid firm gains

GBP/USD is pushing further north on Monday, revisiting the 1.3500 hurdle and beyond. Cable’s uptick is largely being fuelled by the broader softness in the Greenback, amid lingering uncertainty around tariffs.

Gold pops above $5,200, four-week highs

Gold is holding onto its bullish tone on Monday, reaching new multi-week highs just past the $5,200 mark per troy ounce. Fresh trade-war concerns, coupled with rising geopolitical tensions in the Middle East, are keeping demand for the yellow metal well on the rise.

Crypto Today: Bitcoin, Ethereum, XRP intensify sell-off as tariff uncertainty weighs

Bitcoin, Ethereum and Ripple are trading amid increasing selling pressure at the time of writing on Monday, as investors react to fresh trade uncertainty over US President Donald Trump’s push for more tariffs.

Supreme Court nixes tariffs, Trump teases 15% global tariff

On February 20th, the Supreme Court ruled that Trump’s global tariffs under IEEPA authority were unconstitutional, effectively nullifying the framework. However, the relief was short-lived. Within hours, Trump floated a 15% blanket tariff under an alternative legal authority.

XRP recovers slightly as bearish sentiment dominates crypto market

Ripple is rising above $1.40 at the time of writing on Monday amid fresh tariff-triggered headwinds in the broader cryptocurrency market. The sell-off to $1.33, the token’s intraday low, can be attributed to macroeconomic uncertainty, geopolitical tensions and risk-averse sentiment among other factors.