Search ForexCrunch

Fumio Kishida, Chairman and Policy Chief of Japan’s ruling party, Liberal Democratic Party (LDP) said on Monday, the government close to finalizing the economic relief package.

He added that Prime Minister Shinzo Abe will provide the details soon.

On Friday, Kishida said that the government will provide 300,000 yen ($2,800) in cash to each household suffering from falling incomes amid the spread of coronavirus. About 10 million of Japan’s 58 million households are expected to be eligible for the cash program.

Meanwhile, a Japanese daily, Yomiuri Shimbun, cited that the government could announce a state of emergency by Tuesday or before.

USD/JPY regains 108.50

Amid a rally in S&P 500 futures and a broadly firmer US dollar, USD/JPY picks up bids and regains 108.50 to trade around 108.65, at the moment. Investors await a fresh impetus on the Tokyo open.