Japan Labor Cash Earnings data for January +1.3% y/y expected is +0.5% prior was +1.3% Real cash earnings: -1.5% y/y prior -1.7%, revised from -1.4% y/y - USD/JPY has traded lower earlier highs, back towards 120.00. Some chatter around the place that the selling was from exporters and leveraged accounts. ps. Here's a tip for noobs ... Japanese exporters are net sellers of US dollars (they generally will receive payment in USD and want to convert it back to yen to pay their bills and labour, etc.) (full story)