Published: 2025-09-05T01:47:34.000Z
USD/JPY flows: Strong Wage
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Trump warned of 100% tariffs on foreign chip imports unless firms build in U.S.
July labor cash earnings +4.1% y/y
The July Japan labor cash earning surprised to the upside of 4.1% y/y, along with stronger household spending, above 1% both m/m and y/y. It will be supportive for the BoJ's next hike as firms seems to be shaking off the fear of tariff uncertainty and regain the traction in wage hikes.
USD/JPY is trading 0.2% lower at 148.19.