USD/JPY: Yen to continue trading at weak levels without a shift in BoJ policy – MUFG USDJPY BOJ Japan Banks
USD/JPY has continued to trade at just below the 140.00 level. Economists at MUFG Bank analyze YenThe latest wage data from Japan will have been disappointing for the BoJ who are looking for stronger wage growth to support a sustained pick-up in inflation towards their 2.0% target. The report revealed that labour cash earnings increased by an annual rate of just 1.0% in April down from 1.3% in March, and much lower than the consensus forecast for an increase of 1.8%.
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