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Reuters is out with the latest headlines, citing that the Tokyo metropolitan government lowered its coronavirus alert by one level to 3 on Friday. This will be effective from next Tuesday.

Additional takeaways

 The government announced it will loosen restrictions on nighttime activity.

At the national level, the Japanese government will consider adding Tokyo to its “Go to Travel” subsidized domestic tourism campaign, following its exclusion for being a coronavirus hot spot.

Japan’s capital city raised its alert to “red” in July.

This comes after Kyodo News Agency reported Thursday that Tokyo is likely to the alert by one notch from the highest of level 4 from Tuesday.

Separately, the daily Mainichi reported that Japan government will allocate JPY1.6 trillion from reserve fund for COVID-19 measures.

Market reaction

USD/JPY holds steady around 106.15 amid dollar weakness and positive Japanese stocks. All eyes remain on the US CPI data.