Real wages for Japanese workers rose for the second straight month in July, keeping the central bank on track for a possible new rate hike later this year.
Real cash earnings for workers rose 0.4% in July from a year earlier, the Labor Department reported Thursday. While the pace of gains slowed from the previous month’s increase, the result beat the consensus call for a 0.6% decline and followed the first increase in 27 months in June. Nominal wages rose 3.6%, also beating the consensus estimate.
The yen rose to as much as ¥143.19 against the dollar after the figures were released, extending its gains to as much as 0.4% for the day.
