BoJ’s Kuroda: State of emergency may weaken economic recovery

The Bank of Japan (BoJ) governor, Haruhiko Kuroda crossed the wires in the last hour, saying that the domestic economy has been affected significantly by the coronavirus pandemic.

Additional quotes:

• Virus resurgence, state of emergency may dampen Japan’s economic recovery.
• The most important policy is to avoid unemployment and corporate failures.
• Both fiscal, monetary policies have been successful in preventing that.

The comments did little to influence the Japanese yen or provide any meaningful impetus to the USD/JPY pair, which was last seen trading with modest losses near the 103.70 region.