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Japanese Finance Minister Taro Aso said on Saturday that Group of 20 nations generally agreed on the need to coordinate in responding to the new coronavirus that emerged in China and has spread globally.

Aso said he did not believe that risks to japan’s economy have heightened dramatically but declined comment on recent weakness in the yen. He said almost all the G20 finance leaders gathered in Saudi Arabia on Saturday had mentioned risk from the new coronavirus.

Key notes

  • Says don’t think risks to Japan’s economy has heightened dramatically.
  • No comment on yen’s recent weakness.
  • Told G20 ministers Japan hopes countries with fiscal space take bold fiscal steps.
  • Says almost all g20 ministers mentioned risk from coronavirus at today’s meeting.
  • Says China’s ambassador to Saudi attended G20 representing Beijing.
  • Says G20 members generally agreed on need to coordinate in responding to coronavirus impact.

FX implications

Chart Of The Week: USD/JPY moves in on familiar price acceptance area