Japan PM contender Kono wants renewable energy, 5G to be focus of stimulus package

Early Thursday, Japan's vaccine minister Taro Kono, running to replace Prime Minister Yoshihide Suga, crossed wires via Reuters, while saying, “Any new economic stimulus measures should prioritize spending on renewable energy and expansion of 5G networks nationwide.”

The diplomat refrained from outlining the stimulus amount while preferring to ay out targeted areas, per the News.

The policymakers also said it was "hard to abruptly change" the Bank of Japan's ultra-loose policy now given the strain the coronavirus pandemic is inflicting on the economy.

“Every effort must be made to hold talks with North Korean leader Kim Jong-Un but Japan also needed to improve its intelligence-gathering capability,” added former Defence and Foreign Minister.

USD/JPY remains pressured

USD/JPY traders ignore the news while extending the early Asian bearish bias. That said, the quote remains down for the third consecutive day, printing intraday loss of 0.08% near 109.27 by the press time.

Read: USD/JPY consolidates below 109.50 ahead of US retail sales