Japan’s Nishimura: Second major wave of COVID-19 has arrived in country

Dhwani Mehta FXStreet

Japanese Economy Minister Yasutoshi Nishimura said in a statement on Wednesday, the COVID-19 infection state has now developed into a major second wave and swept the country.

Additional comments

“TPP-11 meeting this week will be a good opportunity to send message to the world that promoting free trade important for econ recovery from coronavirus crisis.”

“Strongly believe strengthening the supply chain, implementing digitalization is important for the post-coronavirus global economy. “

Nishimura, who heads the virus response, has said before that there’s no need for a clampdown on economic activity.

Earlier today, Kyodo reported that Japan’s Aichi prefecture is likely to announce its own state of emergency amid 1700+ active COVID-19 cases.

Market reaction

USD/JPY consolidates its bounce to 105.80, still holding above the key 105.50 support. The risk-on rally in the European equities underpins the spot.

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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