The Japanese Yen has fallen back to mid-December’s lows against the US dollar on Wednesday as more weak wage data out of Japan weigh on any idea that tighter monetary policy there could be coming anytime soon.
Japanese workers’ real, inflation-adjusted wages were found to have slipped for a thirteenth straight month in November, according to official figures. Indeed, they were down an annualized 3%, after falling 2.3% in October. Nominal pay grew by a pretty miserable 0.2%, much less than the 1.5% expected.
