Published: 2026-01-08T03:13:49.000Z
USD/JPY flows: Wage Growth Poor in November
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Labor Cash Earnings +0.5% y/y
The Japan November Labor Cash Earnings came in poorly at +0.5% y/y. It is a dovish surprise and with CPI remain hot, real wage dip deeper into negative territories. However, with political roadblock ahead of BoJ, the dovish surprise in wage is unlikely to affect the JPY significantly in this time period.
USD/JPY is trading 0.01% higher at 156.76.