Japan to spend $10.4 bln from budget reserves to help firms, households

The Japanese Cabinet Office is out with a statement on Friday, announcing that it would spend about 1.1 trillion yen ($10.4 billion) from budget reserves, per Reuters.

The additional spending is to support small firms and households hit hard by the coronavirus crisis, the government said.

With the second-wave of the coronavirus tightening its grip across the globe, including Japan, the government extends additional stimulus to support the economy.

Market reaction

USD/JPY is unperturbed by the above headlines, as it keeps its range play intact around 105.50, divided between broad dollar rebound and the risk-off market mood.