Japanese Ministry of Finance announced on Friday that it has set aside JPY 257 billion in budget reserves to combat rising oil and broader prices.

No further details have been provided on the same.

Meanwhile, the government urged companies to raise wages on par with price hikes of around 2 percent while presenting its Annual Report on the Japanese Economy and Public Finance on Friday.

Market reaction

UJSD/JPY keeps its recovery momentum intact on the above headlines, trading at 134.38, up 0.07% on the day.

• USD/JPY bounces off six-week low above 134.00 on mixed Japan data, US PCE inflation eyed