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Japan’s Finance Minister Taro Aso crossed wires, via Reuters, during Friday’s Asian session. The diplomat turned down speculations of extra stimulus, which in turn helped the USD/JPY to pick-up bids.

Key quotes

Not considering now compiling third extra budget.

Now is time to make full use of emergency budget reserve to respond to coronavirus (COVID-19) crisis.

FX implications

Although the news favored the USD/JPY to refresh intraday high to 105.66, the pair fails to stay strong amid the pre-NFP cautious sentiment. It should, however, be noted that Japan’s Nikkei 225 stays mildly bid above 23,200 after overcoming Thursday’s technical glitch.