Japan Cabinet OKs 18 trillion yen extra budget draft under PM's fiscal push

Japan Cabinet OKs 18 trillion yen extra budget draft under PM's fiscal push

Japan's Cabinet on Friday approved a draft 18.3 trillion yen ($117 billion) supplementary budget for this fiscal year to fund a massive economic package under Prime Minister Sanae Takaichi, who is aiming to spur growth with expansionary spending.

Traders seem hesitant as Japan’s fiscal concerns counter hawkish BoJ

The USD/JPY pair lacks any firm intraday directional bias on Friday and seesaws between tepid gains/minor losses, above the 156.00 mark, through the first half of the European session. Concerns about Japan’s ailing fiscal position, along with the upbeat market mood, offset higher-than-forecast consumer inflation figures from Tokyo. Moreover, a modest US Dollar (USD) uptick acts as a tailwind for the currency pair. That said, speculations that Ja…