USD/JPY has lost further ground, USD weaker across the board

USD/JPY had popped earlier on the poor spending data:

• Japan data - May household spending -1.8% y/y (expected +0.1%)

After highs circa 161.40 USD/JPY gave it all back. The momentum was added to by a little more aggression in the comments from Japan's finance minister Suzuki earlier:

• Japan finance minister Suzuki says weak yen is pushing up import costs

USD/JPY has dipped to just under 160.60. The USD is higher across the board, carrying on its 'risk on' move.