Japanese Prime Minister Fumio Kishida said in a statement on Monday, he has no plans to change the sales tax.

“Climate change is a big theme, but must maintain stability in energy prices and supply,” he added.

Market reaction

USD/JPY caught a fresh bid wave in sync with the Treasury yields, having tested the multi-year highs at 114.46 earlier this Monday.

The spit was last seen trading at 114.34, up 0.10% so far.