Yen slips toward 145 as wage data disappoints

The Japanese yen weakened toward 145 per dollar on Monday, as weaker-than-expected wage growth reduced hopes for further Bank of Japan rate hikes. Nominal wages rose just 1% in May, marking a third month of slowdown, while real wages dropped 2.9% the sharpest fall in nearly two years. This also marked the fifth straight monthly decline. Meanwhile, the US dollar index ticked up to 96.86, snapping a two-week losing streak.

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