Japan PM Abe: Will take the necessary measures on the virus hesitation, JPY keeps highs

Reuters reports the latest comments from the Japanese PM Shinzo Abe, as he expresses a conciliatory tone on the China coronavirus issues and assures pre-emptive measures to counter the negative economic fallout from the outbreak.

Key Quotes:

Will take the necessary measures on the virus hesitation.

Will be using JPY 10.3bln in reserves for virus measures.

To bolster virus testing at 83 research centers.

FX Implications:

The Japanese yen holds the higher ground amid virus-led risk aversion across the board, with USD/JPY printing a new daily low near 109.70. The spot is mainly weighed down by heavy sell-off in the US Treasury yields across the curve.