Japan's Nishimura: Set to declare state of emergency for Tokyo area through August 22

“Japan's government is set to declare a state of emergency for the Tokyo area through August 22 amid a new wave of infections,” Japanese Economy Minister Yasutoshi Nishimura said on Thursday, per Reuters.

The official casts a shadow over the country’s holding of the Olympics, the news added.

Japan’s Nishimura also said, “the state of emergency will begin on July 12.”

Earlier in the day, Kyodo news came out with the update suggesting Japan may hold the Olympics without any spectators.

Market reaction

Following the news, USD/JPY refreshes intraday low 110.53, down 0.08% on a day.

Read: USD/JPY remains directionless near 110.60 as US Treasury yields dips