USD/JPY flows: Further Correction

The Japan May household spending came in lower than expectation of +0.1% to -1.8% y/y. It continues to point towards Japanese consumers unwilling to purchase products at a higher price despite wage picking up. It would weigh on BoJ's pace of monetary policy. We also have the usual jawboning from Suzuki saying weak yen is pushing up import costs. 

USD/JPY is correcting further and is trading 0.35% lower at 160.64.