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A senior official at the Japanese Finance Ministry said on Tuesday, Japan is expected to explain the policy steps put together so far on G7 Finance Ministers’ call that took place on Monday.

Nothing further is reported on the same.

“At the G7 video conference, leaders committed to doing “whatever is necessary” to battle the coronavirus pandemic and to work together more closely to protect public health, jobs and growth, and issued a statement promising to address the health and economic risks,” per Reuters.

USD/JPY reaction

USD/JPY has quickly faded its uptick above 107.00 and now nears 106.50, tracking the retreat in the S&P 500 futures and Treasury yields.