Japan’s Nishimura: State of emergency to remain in effect until May 6

Dhwani Mehta FXStreet

In a press briefing on Tuesday, Japanese Economy Minister Yasutoshi Nishimura said that the state of emergency to remain in effect until May 6.

On Monday, Prime Minister Shinzo Abe declared a state of emergency in Osaka and Tokyo, the cities where the number of coronavirus cases has imploded.

Abe also said that the government will announce 39 trillion yen of aid to combat COVID-19.

USD/JPY reaction

The market mood seems to be souring, as the US stock futures have turned negative amid persisting virus concerns. Therefore, USD/JPY eased back below 109.00 while the renewed US dollar weakness across the board also adds to the downside in 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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