Japanese Prime Minister Fumio Kishida said on Friday, he will submit new laws to boost supply chains and secure core infrastructure during the parliamentary session next year.

This comes after the country’s government pledged to deploy necessary fiscal spending without hesitation in response to the covid crisis, the government's draft guidelines for the fiscal 2022 budget showed on Friday.

Market reaction

USD/JPY is catching a fresh bid amid a recovery in the risk sentiment as well as in the Treasury yields.

The pair is trading at 113.23, adding 0.08% on the day, as of writing.