Japan’s Suzuki: Wage increases are important to both the government and BoJ

Japan's Finance Minister Shunichi Suzuki said in a statement early Tuesday that “wage increases are important to both the government and the Bank of Japan (BoJ).

“It is too early to judge whether the joint statement needs to be revised,” the minister added.

Market reaction

USD/JPY is threatening the 130.00 level, down 0.23% on the day so far. The Japanese Yen outperforms in Tuesday’s Asian trading amid upbeat domestic Industrial Production and Retail Trade data. Meanwhile, broad US Dollar weakness also weighs down on the USD/JPY pair.