Japan’s Top FX Diplomat Mimura: Small and medium firms have strong prospects of wage hikes

Atsushi Mimura, Japan’s Vice Finance Minister For International Affairs and top foreign exchange official, said on Monday, “It's not only big firms, also hearing small and medium firms have strong prospects of wage hikes.”

Additional quotes

Real private consumption in Japan is still below pre-Covid levels.

Bright spots in the economy include strong corporate investment, inbound tourism.

Market reaction

USD/JPY is flirting with intraday lows near 150.15, losing 0.75% on the day, as of writing.