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Japan May Extend State Of Emergency, EU To Remove It From Travel "White List"

JPY

USD/JPY slipped Tuesday, as the greenback went offered ahead of the upcoming monetary policy decision from the FOMC & the end of the month. The IMF's upgrade to its global & U.S. growth forecasts added pressure to the USD.

  • Kyodo cited unidentified sources claiming that Japan will probably extend its state of emergency beyond Feb 7, possibly through the end of Feb.
  • An unnamed EU off'l told BBG that the bloc is planning to remove Japan from its travel "white list" and refuse entry to Japanese residents, owing to the current Covid-19 situation.
  • Japan's Lower House approved a third supplementary budget worth Y19.18tn on Tuesday. The bill is expected to clear the House of Councillors on Thursday.
  • The rate sits at Y103.61, with nearest support coming up at Y103.33/28, which represent the low print of Jan 21/61.8% retracement of the Jan 6 - 11 rally. Below there would open up the 76.4% Fibo support at Y103.02. Bulls keep an eye on channel top at Y103.99, followed by Jan 11 high of Y104.40.
  • BoJ Gov Kuroda will appear in parliament today. Looking further afield, Japan's retail sales come out tomorrow, while Tokyo CPI, unemployment & flash industrial output are due Friday.
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