Japan July Household spending -2.7% m/m

  • expected +0.7%, prior +0.9%

For the y/y -5.0%

  • expected -2.5%, prior -4.2%

Nothing in this data to suggest the Bank of Japan will be dialling back on the easing path any time soon.

USD/JPY update:

usdyen update falling hosehold spending in Japan 05 September 2023