Early Monday morning in Asia, Nikkei Asian Review came out with the news suggesting the extension of Abenomics under Japan’s New Prime Minister Yoshihide Suga. Key quotes Japan’s Ministry of Defense will request a record 5.4 trillion yen ($51.6 billion) in the fiscal 2021 budget, seeking a ninth straight year of increases as China rises and new technological threats emerge. The tally, which also covers Japanese contributions to the U.S. military presence, has topped records every year since fiscal 2015 under now-former Prime Minister Shinzo Abe. The ministry considers the fiscal 2021 increase necessary in a fast-changing East Asian security landscape that includes Chinese provocations in the East and South China seas and the North Korean missile program. New Prime Minister Yoshihide Suga has expressed interest in continuing efforts by Abe to bolster Japan’s defenses and diplomatic strategy. The Defense Ministry requested 5.32 trillion yen for fiscal 2020, receiving 5.31 trillion yen in the initial budget. It has gotten about 40 billion yen less a year on average than it has sought since fiscal 2015. FX implications Global markets players are waiting for the Tokyo open to respond to the news. However, an early uptick in the AUD/USD and AUD/JPY quotes, to 0.7300 and 76.30 respectively, seem to have justified the update. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next AUD/JPY Price Analysis: 50-day SMA guards immediate upside under falling wedge FX Street 2 years Early Monday morning in Asia, Nikkei Asian Review came out with the news suggesting the extension of Abenomics under Japan’s New Prime Minister Yoshihide Suga. Key quotes Japan's Ministry of Defense will request a record 5.4 trillion yen ($51.6 billion) in the fiscal 2021 budget, seeking a ninth straight year of increases as China rises and new technological threats emerge. The tally, which also covers Japanese contributions to the U.S. military presence, has topped records every year since fiscal 2015 under now-former Prime Minister Shinzo Abe. The ministry considers the fiscal 2021 increase necessary in a fast-changing East Asian security… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.