Japanese data on wages, some better news for workers!
Labour cash earnings 2.1% y/y
- expected +0.9%, prior +0.6%
Real cash earnings +1.3% y/y
- expected 0.0%, prior -0.2%
BOJ and administration will be happy to see a move in a positive direction - the cunning plan of theirs is that wage growth will drive spending and thus inflation. We'll see.
Yen a wee few points up.
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Earlier Japan data not quite s positive:
(worst fall in a month since August of 2016)
