The data on wages and spending are here:
- Japan data - August Labor Cash earnings 1.7% y/y (expected 2.5%)
- Japan data - August Overall Household Spending +5.1% y/y (expected 6.7%)
Both are disappointing.
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Meanwhile USD/JPY popped 145 overnight but has slipped back just a little in morning trade here. Above 145.70 was where we had Japanese authorities intervene to support the yen a couple of weeks ago. Markets have been timid of 145 since. But, a retest of the earlier highs seems inevitable. On the daily chart we ain't even that far away!
