JPY down on renewed hopes US stimulus, BOJ raises assessment for eight of Japan's nine region

JPY down on renewed hopes US stimulus, BOJ raises assessment for eight of Japan's nine region

08 Oct 2020 02:00 PM
 

Japanese yen traded lower against the US dollar Thursday on optimism that US stimulus may be coming soon after US President Donald Trump appeared to reverse his earlier decision to halt talks on another economic rescue effort.

Further boosting sentiments, on Thursday, Bank of Japan raised its economic assessment for eight of the country's nine regions in its quarterly report, saying they are starting to rebound or showing signs of a pick-up.

Dollar/yen traded at Y105.96/$1 compared to Y105.73/$1 at previous close.

Late on Tuesday, US President Trump sent a series of tweets saying he's open to sending out $1,200 payments to Americans, and to limited programs to prop up the airline industry and small businesses.

The tweets came just hours after President Trump declared that his representatives should halt talks with Democrats on a broad stimulus effort for the economy until after the election, saying House Speaker Nancy Pelosi had been negotiating in bad faith.