Japan Is Ready To Allocate 20 Trillion JPY To Fund The Economic Stimulus Package

Kyodo News Agency reports, citing sources, Japan aims to get cabinet approval for an economic stimulus package spending plan on October 28.

The Japanese government and ruling coalition are considering state outlays of more than JPY20 trillion to fund the economic stimulus package, Kyodo reported.

Market reaction

Amidst the latest Japanese fiscal headlines and renewed US dollar strength, USD/JPY is seeing a fresh leg towards 151.00, fresh 32-year highs. The pair was last seen trading at 150.85, adding 0.48% on the day.