Japan’s Aso: G7 has agreed to take fiscal and monetary steps as appropriate

Japan’s Finance Minister Taro Aso crossed wires amid the early Tuesday’s trading hours in Tokyo.

Key quotes

Japan to announce the second package of economic steps on coronavirus Tuesday afternoon.

G7 has agreed to take fiscal and monetary steps as appropriate.

Does not think it is right to consider the current situation as a Lehman-like crisis.

FX implications

Market’s early-Asian risk reset, based on expectations of the US economic stimulus, got an additional boost after the news. While portraying this, the USD/JPY pair rises to 103.50 whereas the US 10-year treasury yields extend recovery to 0.682%, up 18 basis points.