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Japan Ministry of Finance: Cabinet approves 9.27 billion yen in coronavirus emergency budget

August 20, 2021 by admin 0 Comments

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Reuters quotes comments from the Japan Ministry of Finance (MOF), published early Friday while confirming the cabinet’s approval of an emergency budget to battle the pandemic.

“Japan’s cabinet approved a 9.27 billion yen ($84.50 million) emergency budget to help the country’s self-defense forces carry out medical aid amid the coronavirus pandemic,” said Reuters.

USD/JPY bounces off intraday low

Following the news, USD/JPY reverses the early Asian losses while taking a U-turn from the intraday low of 109.63 to 109.74. However, a broad risk-off mood, led by the virus woes, weigh on the yen pair.