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Japanese Economy Minister Yasutoshi Nishimura said on Tuesday, the coronavirus infections must be reduced, or else its negative impact on the economy will continue.

He thinks that private consumption is continuing to show signs of picking up.

His comments come after the Japanese government maintained the economic assessment in December while cutting its view on private consumption.

USD/JPY stuck in range

USD/JPY holds its range around 103.40, adding 0.07% on the day. The US dollar consolidates its rebound across the board, as the European equities stabilize after Monday’s covid crash.