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Japan’s  Economy Minister Yasuhisa Nishimura said on Monday that they remain committed to preventing the Japanese economy from falling into deflation again, as reported by Reuters.

Earlier in the day,  Japan’s Prime Minister Yoshihide Suga reiterated that they will support the economy and said that they aim to raise the average nationwide minimum wage to 1,000 JPY.

Market reaction

The USD/JPY pair largely ignored these comments and was last seen trading at 108.68, losing 0.18% on a daily basis.