The yen is outperforming again, partly due to data.
Real wage growth accelerated in July (2.4% y/y, 1.8% consensus, 1.6% prior).
Q2 GDP was revised up, but by less than expected (1.4% q/q SAAR, 1.1% prior, 1.8% consensus) and primarily due to a smaller contraction in business spending.
The September BoJ meeting is fully priced for a 25bps hike and another hike is fully priced two meetings later by year-end.
