Japan’s Nishimura: To declare emergency if coronavirus cases grow further

Japanese Economy Minister Yasutoshi Nishimura said in a statement on Tuesday, his government could declare an emergency if infections grow further.

Over the weekend, Nishimura said Japan needs to remain on high alert for further coronavirus outbreaks as the number of cases with unclear contagion routes increases, per the Japan Times.

Until last week, Nishimura maintained his stance of no state of emergency under consideration.

The nation’s number of COVID-19 infections has spiked in the past week, with Tokyo reporting more than 200 cases for three straight days.

Market reaction

The above comments are likely to add to the souring risk sentiment and bode well for the Japanese yen.

At the press time, USD/JPY sheds 0.07% to trade at session lows of 107.16.