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Following a cabinet meeting on Thursday, the Japanese Finance Minister Taro Aso came out on the wires, via Reuters, commenting on the recent market moves.

Key Headlines:

Volatility was high in financial markets

Hopes markets would calm down.

Various factors are behind market moves including the US-China trade war.

There was no change to the government’s plan to raise the sales tax in October, despite falling bond yields.

His comments have limited impact on the market, with USD/JPY consolidating the recovery to 106.07 levels amid mounting US recession fears, as the US Treasury yield curve inverted and 30-year Treasury yields fell to a record low below 2%.