Japan PM Suga: Will decide by next week whether to use JPY500B for targeted payments

Japan’s Prime Minister (PM) Yoshihide Suga said that he will decide next week will decide by next week whether to utilize the JPY500 billion ($4.58 billion) in reserve funds for targeted payments while speaking at a government meeting on Tuesday.

The measures would include payments of JPY50,000 to single-parent and low-income households as well as aid for work training and food banks, PM Suga added.

Earlier today, Finance Minister Taro Aso said that the Cabinet has approved cash handouts.

USD/JPY defends bids above 109.00

USD/JPY is off the highs but trades better bid above 109.00 amid a cautious market tone ahead of the FOMC decision.