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In a joint editorial piece, carried by the Nikkei Asian Review, the Bank of Japan (BOJ) Deputy Governor Masazumi Wakatabe said that the central banks must stick to their commitment to reach their price goals, If they want to combat the inflationary or deflationary risks induced by the coronavirus pandemic.

Policymakers must increasingly shift focus from liquidity to solvency problems that may arise due to COVID-19, he added.

Market reaction

The above comments had little to no impact on the Japanese yen, as USD/JPY continues to be driven by the risk trends. The spot is back into the red zone amid negative S&P 500 futures, now trading at 107.75, down 0.15% so far.