Japan government committee calls for 3% hike in average minimum wage – Kyodo

A Japanese health ministry committee recommended that the country's average minimum wage be raised, Kyodo News Agency reported on Wednesday.

The minimum wage is proposed to be raised by JPY28, or about 3%, to 930 yen ($8.42) per hour.

Japan’s Prime Minister Yoshihide Suga has repeatedly said his goal is to raise the nationwide average minimum wage to JPY1,000 per hour.

Market reaction

USD/JPY drops in tandem with the US dollar and the yields, testing lows near 110.40, down 0.13% on the day.