Japan’s Nishimura: Will use domestic demand to revive economic growth after April-May decline

Dhwani Mehta FXStreet

The government plans to use the domestic demand to revive the economic growth after April-May decline, said Japanese Economy Minister Yasutoshi Nishimura in a statement on Tuesday.

Additional comments

“Consumption is recovering with the lifting of restrictions.”

“106 new COVID-19 cases confirmed in Tokyo.”

Market reaction

The above remarks fail to have any impact on the yen, as USD/JPY continues to head higher towards 108.00 on the back of broad-based US dollar recovery.

The virus resurgence fears lift the haven demand for the greenback.

S&P 500 futures correct from three-week tops, virus resurgence dents risk

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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