Published: 2024-09-05T05:09:39.000Z
USD/JPY flows: Labor Cash Earning Remains Strong
FX Analyst
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Japan July Labor Cash Earnings +3.6% y/y
BoJ Takata says Japan's economy is recovering moderately, though some weak signs
The July Japan Labor Cash Earning gave another strong read at 3.6% y/y, above BoJ's favorable 2%, but have moderated from June's 4.5%. The data is supportive for BoJ's hawkish policy tilt yet a sustained wage growth above 2% will be required for the BoJ to further tighten.
USD/JPY dipped in the early hours to 143.18 but has since partially reversed after BoJ's Takata saying "Japan's economy is recovering moderately though some weak signs". USD/JPY is currently trading 0.23% lower at 143.38.