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Japanese wages rise for the first time in 2 years

By   || March 3, 2010 at 01:34 GMT
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After the good employment data yesterday, this will be more welcome news and perhaps a sign that the war against deflation can be won. Even though the rise is very small, 0.1% YoY, it is nevertheless a move in the right direction. USD/JPY remains pretty much unchanged, mid-range for the session at 88.70. EUR/JPY is trying to break above 121 but momentum is lacking. It looks like we’re going to have to wait for Europe to come in before we get any decent-sized moves.

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