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Oct 08 - 10:55 PM

USD/JPY - Unaffected But Data Still Bears Watching

By Haruya Ida  —  Oct 08 - 09:15 PM

  • USD/JPY unaffected by Japan data income, spending data out earlier

  • This has been case forever but data still bear watching, BoJ vigilant

  • Today August real wages -1.4% y/y, down sixth straight month

  • Total cash earnings -1.3% y/y, overtime pay -14.0% y/y

  • August household spending +1.7% m/m but -6.9% y/y, +3.2% and -6.9% eyed

  • BoJ well aware of income-consumption correlation, hard for econ to recover

  • BoJ policy likely to remain ultra-easy indefinitely, USD/JPY supportive?

  • See nL4N2GY1OP, nT9N2GC01Y, nL4N2GZ0BR, for more click on FXBUZ


USD/JPY: Click here

Source:
Refinitiv IFR Research/Market Commentary

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