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Japan’s Chief Cabinet Secretary Yoshihide Suga, also a top candidate to replace the Prime Minister (PM) Shizo Abe in September 14 election, crossed wires via Asahi during the early Tuesday morning in Asia. The top diplomat raised calls for a snap election while also favoring the decision to hold the Olympic Games.

Key comments

There’s no change to my stance as a chief cabinet minister that what the public wants from the government most is to focus on measures to deal with the coronavirus pandemic.

But the prime minister has the right to dissolve parliament (and call a snap election). If the next premier decides to call one, that should be the case. If not, it won’t happen.

There are various merits for japan to host Olympic games, would like to do so by all means.

Should not have pre-set timeframe in mind for revising the constitution.

FX implications

USD/JPY pays a little heed to the news as traders await Tokyo open after the US off on Monday. That said, the yen major remains mildly bid around 106.30 by the press time.

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