Japanese Prime Minister Yoshihide Suga said on Wednesday that they will decide this week whether or not they will tap into 1.4 trillion JPY from reserves for additional cost for dealing with the pandemic, per Reuters.

Additional takeaways

“Will strive to provide COVID-19 countermeasures for children that would not interfere with the new school term.”

“Will come up with guidelines for how to react if there are people infected at schools.”

“Expect about 60% of japan public will complete vaccination by end-September.”

“Overseas examples show strict lock-downs had little effect in curbing infections.”

“Have already secured vaccines for third round of vaccination.”

“We have enough supplies of vaccines to provide booster shots if such decision is formally reached.”

Market reaction

The USD/JPY pair continues to push higher following these comments and was last seen rising 0.33% on a daily basis at 110.00