USD/JPY flows: Labor Cash Earning 2.3%

While under the pressure of U.S. tariffs, the Japan April labor cash earning continues to grow above 2% at 2.3% y/y. It seems to suggest Japanese business did not turn towards cutting cost from wage but it is not completely out of the woods yet as the majority of tariff talk comes after April. 

Yet, with real wage stays negative, JPY gets little support and see USD/JPY trades 0.17% higher at 143.