Japan Rengo's second-round wage hike agreed at 5.4%
Source Fxstreet
Japan's largest trade union group’s, Rengo, second-round data of annual labor talk (Shunto) results showed Japanese firms agreed to raise pay by 5.4% this year.
The data is lower than the first-round results, which showed an average wage hike of 5.46% for fiscal 2025, higher than last year's average of 5.1%.
The reading exceeded 5% for the second straight year.
Market reaction
The Japanese Yen (JPY) is off the lows but remains under heavy selling pressure on these headlines, keeping USD/JPY 0.42% higher on the day at 149.42 at the press time.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Once again, the price of Ethereum (ETH) has risen above $3,900. This bounce has hinted at a further price increase for the altcoin before the end of the year.
Ethereum fell below $3,000 after failing at $3,200, with resistance at $3,020 and key support at $2,880; a break lower could target $2,800 and $2,750, while a rebound needs $3,120–$3,150.
Bitcoin fell below $90,000 to around $88,300 as risk-off headlines hit markets, while on-chain data shows new whales now lead Realized Cap with a ~$98,000 cost basis and ~$6B unrealized losses.
Gold (XAU/USD) is seen extending the previous day's modest pullback from the vicinity of the $4,900 mark, or a fresh all-time peak, and drifting lower through the Asian session on Thursday.
President Trump's pledge to sign pro-crypto legislation boosts Bitcoin prices as he emphasizes keeping the US as a crypto leader.
Related Instrument
