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The Japanese economy remains in a severe situation but starting to pick up, the Bank of Japan (BOJ) Governor Haruhiko Kuroda said in a statement on Thursday.  

Additional quotes

“Will watch the impact of COVID-19 and take additional easing steps if needed without hesitation.”

“Japan consumer prices likely to fall for the time being.”

“Consumer prices likely to turn positive thereafter, gradually accelerate pace of increase as the economy improves.”

Market reaction

USD/JPY is looking to extend gains above 106.00, as the yen remains undermined by a better market mood, with the US Vice President debate kicking-off.

The spot was last seen trading at 106.02, up 0.08% on the day.