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According to the latest headlines floating on the wires, Japanese Prime Minister Yoshihide Suga declares state of emergency for Tokyo and its three adjacent areas – Kanagawa, Saitama, and Chiba. The restrictions, aimed to stem COVID-19 infections, will be imposed from Friday until February 7.

The declaration took its toll on the Japanese yen, which was already under some selling pressure in the wake of the prevalent risk-on environment. This, in turn, pushed the USD/JPY pair to one-week tops, closer to mid-103.00s