USD/JPY flows: Household spending lags

The Japan April household spending contracts -0.1% y/y. It was expected the household spending in April will continue to point upwards but seems to be dragged by negative real wage. Furthermore, the start of Q2 are not likely to be contributing much for economic growth from private consumption.

USD/JPY is trading 0.17% higher at 143.74 but the Trump-Musk fiasco continue to capture eyeballs.