Dhwani Mehta
14 Mar @ 07:31 (GMT+0)
Japan Rengo's first-round wage hike exceeds 5% for second straight year
Japan's largest trade union group, Rengo’s first-round data shows an average wage hike of 5.46% for fiscal 2025, compared to the demand of a 6.09% hike.
The 5.46% wage hike is higher than last year's average of 5.1%, exceeding 5% for the second straight year with the Japanese spring wage negotiations (Shunto) underway.
Market reaction
The Japanese Yen (JPY) has come under fresh selling pressure on these headlines, driving USD/JPY 0.73% higher on the day at 148.90 at the press time.
Forex News
Keep up with the financial markets, know what's happening and what is affecting the markets with our latest market updates. Analyze market movers, trends and build your trading strategies accordingly.
