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Kyodo News reports that Japan’s daily number of confirmed coronavirus cases on Wednesday topped 1,300, remaining at high levels ahead of next week’s summer holiday peak, with health authorities calling on people to be cautious when they travel to their hometowns and elsewhere.

Lead paragraphs

Tokyo reported 263 new cases of the novel coronavirus, amid the continued resurgence of infections in August. Average daily new infections over the week through Wednesday stood at 346.3, according to the metropolitan government.

The single-day figure, down from Tuesday’s 309, brought Tokyo’s cumulative total to 14,285. The capital, which has a population of nearly 14 million and has the highest number of infections in the country, saw a record of 472 reported Saturday.

The city government has raised its alert for the pandemic to the highest of four levels, meaning “infections are spreading,” requesting that karaoke venues and establishments serving alcohol close by 10 p.m. through the end of August.

Key notes

  • The city government has raised its alert for the pandemic to the highest of four levels, meaning “infections are spreading”.
  • With Japan’s Bon holiday season beginning next week, there are concerns that the movement of people will further spread the virus.
  • The government will not officially ask for people to exercise self-restraint.
  • The resurgence of infections has been observed in many other parts of Japan.

USD/JPY implications

For the time being, the yen is regarded as the safe-haven currency of choice while the greenback is under pressure in weeks of decline. 

USD/JPY Price Analysis: Bulls step into the bear’s layer