USD/JPY flows: Holding on 150

BOJs Nakamura says he is not confident about sustainability of wage growth. And he is correct. For the past year, while headline wage growth is spectacular in Japanese terms, small and medium business have been having a hard time in catching up the pace of large enterprise. Early reports are suggesting union asking for another strong wage hike and we believe it will be difficult for small/medium business to follow as the private consumption picture is not bright and is limiting business margin.

USD/JPY is holding above 150 at 150.28, down 0.18% for the session.