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The US Treasury Department said in a statement late Tuesday, US Treasury Secretary Mnuchin and Japanese Finance Minister Aso said that they “welcomed the strong measures taken by both countries thus far to address the economic and financial impact of the coronavirus,” in a telephonic conversation.

The statement read: Mnuchin and Aso “reaffirmed their commitment to use all appropriate policy tools to achieve strong, sustainable growth and safeguard against downside risks,” per Reuters.

USD/JPY reaction

USD/JPY is feeling the pull of gravity amid a sharp pull back seen in the US equity futures, as the virus spread across the globe outweighs the global economic stimulus measures.

The spot trades at 107.15, down 0.47% on the day.