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Japanese Finance Minister Taro Aso said on Tuesday, he is unable to comment on the economic impact on Japan from US President-elect Joe Biden’s government now.

He also refraining from making any comments on the surge in the stock market.

His comments come after the Japanese benchmark index, the Nikkei 225, hit the highest levels since 1991 at 25,293 on the optimism over the US election outcome and Pfizer COVID-19 vaccine news.

Market reaction

USD/JPY is on a steady decline so far this Tuesday, extending correction from three-week highs of 105.64. Vaccine progress is boding well for the risk asset alongside the US dollar amid reduced need for additional stimulus globally.

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