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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.

Author

Dhwani Mehta

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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