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Japanese PM Abe is on the wires now, via Reuters, noting that they will take unprecedented economic policies to battle the economic impact of the coronavirus outbreak.

Additional quotes

Will take economic policies that carry a strong message with a firm commitment, when asked about the proposal for lowering sales tax.

Will hold G7 leaders’ teleconference at 1400 GMT.

USD/JPY reaction

  • USD/JPY holds onto recovery gains towards 107.00 with eyes on BOJ
  • G7 to hold extraordinary video conference on Monday at 1400 GMT
  • BOJ to hold emergency meeting at 0300 GMT
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