USD/JPY flows: Another good labor cash earning

Labor cash earning for Japan in February arrived at 1.8% y/y, slightly lower than 2% in January but it is well before the strong negotiation results in March and closer to the 2% target. It is a positive sign and supports BoJ's decision to change monetary policy as wage growth should accelerated further after March. However, on Monday Asia session, the theme is potential cease fire between Israel and Hamas and strong gains for metal.

With U.S. Treasury Yields higher across the curve, USD/JPY continues to hang around recent high at 151.77, 0.11% higher for the session.