Japan’s Aso: Won't loosen grip on fiscal reform when compiling budget for next fiscal year

Japanese Finance Minister Taro Aso is on the wires now, via Reuters, noting that the Japanese government won't loosen the grip on fiscal reform when compiling a budget for next fiscal year.

On the Japan-South Korea trade front, Japan’s Trade Ministry said that Seoul has undermined the countries’ “relationship of trust,” including export controls.

The Associated Press reported that Japan-Korea trade row is likely to grow, as Tokyo expands restrictions on exports of sensitive materials to South Korea.

As of writing, the Japanese Yen looks little affected by the trade and fiscal headlines, as the focus remains on the BOJ and Fed monetary policy decision due later this week. USD/JPY is on a steady recovery from 108.42 lows, as the US dollar stays stronger near 2-month tops across its main rivals.