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

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.

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