Japanese press reports main pillar of government stimulus package to be cash payments
|Japanese press reports that the main pillar of the government stimulus package to be cash payments. The Japan ruling party is considering an economic package worth over 30 trillion yen in response to coronavirus impact - Sankei Newspaper.vThe news follows a series of packages from around the world's governments and central banks looking to mitigate the economic impact of the COVID-19 devastation.
With a focus on the US considering the strength of the US dollar, the Trump administration and congressional leaders rushed on Wednesday to assemble a massive stimulus package aimed at preventing the US economy from plummeting into its worst collapse since the Great Depression. The Washinton Post reported that "the administration’s $1 trillion proposed rescue plan, which forms the basis for fast-moving negotiations on Capitol Hill, includes sending two large checks to many Americans and devoting $300 billion toward helping small businesses avoid mass layoffs. Priorities laid out in a two-page Treasury Department document also include $50 billion to help rescue the airline industry and $150 billion to prop up other sectors, which could include hotels."
USD/JPY in focus
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.