Japan LDP’s Tax Panel Chief Amari: Will likely compile next economic stimulus in fall

In a Reuters interview on Monday, Akira Amari, Japanese ruling Liberal Democratic Party's (LDP) Tax Panel Chief and a close ally of Prime Minister (PM) Shinzo Abe, noted that the government is expected to compile the next stimulus package to boost the economy in fall to respond to the coronavirus outbreak.

Additional comments

“Possibility of PM Abe dissolving parliament's lower house as early as fall is not zero.”

“Does not support the idea of cutting sales tax.”

USD/JPY stuck below 107.00

USD/JPY keeps its range play intact just below the 107 handle, as traders are divided between the risk-on market mood and a significant drop in the US dollar across its main competitors.

A fresh catalyst is awaited for a range break out.