Japan Wages Rise Most Since 1997, Backing BOJ Rate Hike

Japan's wages grew at the fastest pace since 1997, keeping the Bank of Japan on a path to raise interest rates. The country also revised its second-quarter GDP higher, helped by a slight improvement in capital spending. The yen strengthened to the upper 152 range per dollar for the first time in six months amid expectations of faster BOJ rate hikes. Japanese bond yields are surging, as explained in six charts.