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Japanese Prime Minister Shinzo Abe will reportedly announce a month-long state of emergency according to news agency NHK. The PM may designate seven prefectures, including the capital Tokyo in a special state. The number of COVID-19 cases has been on the rise in the capital and also in Osaka, another large city in the world’s third-largest economy. 

According to Kyodo, another agency, the government will make cash handouts that will reach citizens in May.

Japan had initially coped well with the coronavirus amid a high level of discipline among its population. USD/JPY is holding onto gains above 109.