Japan to push JPY 20 trln stimulus package: Nikkei

Japan will launch a JPY 20 trln stimulus package, Nikkei News reports. At least 4 trln JPY will be for programs that require immediate spending.

This is a two-edged sword for the JPY. It will add to huge deficits but could help ward off deflation. Trillions in prior Japanese stimulus earlier this decade did not ward off deflation, however.

USD/JPY is holding below resistance at 87.40/50, trading now at 87.25.