Japanese Economy Minister Yasuhisa Nishimura crossed wires, via Kyodo News, while boosting chatters over the return of the coronavirus-led emergency in the Asian major economy.

”The Japanese government plans to put Tokyo and three western prefectures of Osaka, Kyoto and Hyogo under a state of emergency from Saturday to May 11, covering the country’s upcoming string of holidays, in an attempt to curb surging COVID-19 infections with stricter measures,” per the top diplomat.

”Businesses serving alcohol will be asked to close. Big sporting events to be held with no spectators present,” added Nishimura.

Market Reaction

As investors and traders await the official announcement of the news, S&P 500 Futures await fresh clues to extend Wall Street’s losses, backed by US President Joe Biden’s proposal for the capital gains tax hike. That said, USD/JPY remains pressured around 107.945 at the time of this article, refreshing seven-week low the previous day.

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